That view is at odds with the majority in the Bloomberg survey, but Renaissance Global Chief Economist Charles Robertson says South Africa’s fundamentals have deteriorated significantly since May, when Moody’s Investors Service affirmed its Baa3 rating. The next review is on Nov. 1.
President Cyril Ramaphosa’s ability to implement tough economic reforms is constrained by his tenuous hold on the deeply divided ruling African National Congress and opposition from its labor union and Communist Part allies, who oppose privatization, fearing job losses. The slow pace of action has frustrated investors, driven business confidence to the lowest level since 1985 and weighed on the rand.
Still, a majority of respondents in a Bloomberg survey said they expected South Africa to hold on to its investment-grade rating from Moody’s, at least for this year.
Oh well.
All the sheep will still vote for them
Fact ANC killed south African
SA is junk long ago already....since zuma days......😴😴😴😏
Why is this overrated cracknut still keeping his job?
Can CyrilRamaphosa tito_mboweni TreasuryRSA and all relevant roleplayers give the economy the boost, it so badly need, in order to prevent this imminent downgrade which will turn SA into JunkStatus?
We are safe in the welcoming arms of China. 👌🏾
Another scam! 😖
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