Tag: fitch downgrade
On Friday ratings agency Fitch downgraded South Africa further into junk status saying government didn’t have a clear plan to stabilise rising debt levels. However, institutions like the IMF say African countries should be allowed to increase debt to GDP ratio’s to contain the economic fallout from Covid19. Should ratings agencies therefore revise their methodology to adapt to Covid19 times? Jan Friederich, Head of Middle East and Africa Sovereign ratings at Fitch joins CNBC Africa for more.