South Africa enters into a 21-day lockdown period in the face of a global pandemic, an economy in recession and a possible downgrade by rating’s agency Moody’s.
So far, the country has avoided a downgrade by Moody’s despite high public debt, weak economic growth and lower than expected tax collection. In its Kabelo Tshola, a portfolio manager at FNB Wealth and Investments, said however that the ratings agency may well give the country “the benefit of the doubt and suspend the review until the second half of the year”.
“This will be difficult in a situation where spending is required to support the economy through this outbreak. It is also highly unlikely that the revenue authorities will achieve their targets for this year,” he says. Sifiso Skenjana, the chief economist at IQ Business, said Moody’s might use a “wait and see” approach to revising South Africa’s credit rating “until this [Covid-19] anomaly has passed”.
Do we care ? No . Now is not the time
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gamechangers: The changing landscape of SA's media - The Mail & GuardianREVIEW: Two books on two media outlets, Daily Maverick and Independent newspapers, tell stories of success and failure. cannot wait for the gat kruipers at IOL to publish their response.
Source: mailandguardian - 🏆 2. / 92 Read more »
SA Express business rescue practitioners to throw in the towel - The Mail & GuardianWith Covid-19 halting air travel, labour unions have been told that lack of post-commencement funding and travel bans have forced the airline to the point of no return. Regretfully - this is the 'bug' that killed an airline. If Dudu had used her head and signed an agreement with the then proposer, it would have been a totally different kettle of fish today! Stupidly and arrogance destroyed SAA!
Source: mailandguardian - 🏆 2. / 92 Read more »
SA's Monique Best holds on to Miss Planet title longer as international pageant is postponedMiss Planet International 2020, which was scheduled to take place in Cambodia in May has been rescheduled for later this year.
Source: Channel24 - 🏆 48. / 51 Read more »
Eusebius McKaiser: A letter to us people who live in the suburbs - The Mail & GuardianThe Covid-19 lockdown means wealthy citizens must take a long-overdue look at our privilege. Now is the time for cross-class solidarity Eusebius Stunning and brave Eusebius They don’t care. Eusebius My privilege or that which I have earned? Perhaps people should reconsider their own choices and personal responsibility for asking those who were successful to rethink their paths which clearly worked for them?
Source: mailandguardian - 🏆 2. / 92 Read more »
Rights group wins court bid against Engen - The Mail & GuardianThe Right2Know Campaign has been allowed to join a court case against Engen, which used the Regulation of Gatherings Act to ban protests outside its Durban refinery.
Source: mailandguardian - 🏆 2. / 92 Read more »
Time travelling with Manu Dibango - The Mail & GuardianCameroonian songwriter, saxophonist and all-round musician, Manu Dibango has been here for centuries, and he ain't goin' away any time soon Am sad.... was playing his dvd with Ray Lema.....live in Lisbon 2004... Afrika: Mokili Mobimba
Source: mailandguardian - 🏆 2. / 92 Read more »