JOHANNESBURG (Reuters) - South Africa is “no way near debt distress”, central bank governor Lesetja Kganyago said on Friday, despite the country’s debt-to-gdp ratio nearing the 100% mark seen as a red line for investors and credit rating agencies. Kganyago, speaking live online during an African Development Bank panel, did however warn of the dangers of implementing fiscal austerity during a prolonged contraction of gross domestic product. “Debt is an outcome of your fiscal policy stance, so for as long you are running a fiscal policy deficit you will have debt,” Kganyago said. “(But) it could actually be self-defeating if you try to implement fiscal consolidation during a growth crisis.”