Moody’s downgraded South Africa’s sovereign credit rating to junk status on Friday evening and this has left has left government concerned and trembling in its boots to what extent that this might have on the economy. The downgrade coupled with the COVID-19 fears is bringing much stress to the rand as well as the markets. Joining CNBC Africa to unpack it all is Rashaad Tayob, Fund Manager at Abax Investments and Jacques Celliers, CEO of FNB.
Fears of an economic catastrophe if Moody’s downgrades South Africa to junk status after the national budget are misplaced. This is according to Andrew Bahlmann, CEO of Deal Leaders Africa who says despite a potential downgrade, the wheels of the country's economy will keep turning. He joins CNBC Africa for more.
South Africa will use its annual budget next year to outline “decisive” policy to strengthen its fiscal framework, the finance ministry said on Saturday after S&P Global Ratings cut its local currency...
Both S&P and Moody’s have reviews scheduled for 24 November.
South Africa’s dire budget forecasts have raised the stakes ahead of S&P Global’s and Moody’s Nov. 24 credit rating reviews of the junk grade-threatened country. Both firms have reviews on the same day....
South African deputy central bank governor Kuben Naidoo said on Tuesday domestic factors are the main cause of a frail economy and the risk of further credit downgrades is “quite significant”. Painting a...
Johannes Jordaan, Dennis Dykes tops Reuters SA economist poll
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