All SA cities painted with same junk brush, Cape Town Dep Mayor disputes rating
“We’re able to deliver on our budget and plans. We don’t see any merit in this [Moody’s] downgrade,” says Cape Town Deputy Mayor Ian Neilson.
“We’re able to deliver on our budget and plans. We don’t see any merit in this [Moody’s] downgrade,” says Cape Town Deputy Mayor Ian Neilson.
‘According to the Auditor General, in national and provincial departments alone for the year 2017/18, the amount wasted stood at a staggering R2.57bn’, writes Mcebisi Ndletyana.
‘The reality is that South Africa is running out of money.’ Sable International’s Andy Rissik sets out his analysis of ratings downgrades.
If planned fiscal consolidation is unsuccessful, government could face debt distress with adverse implications for the broader economy, warns: SA Reserve Bank
South Africa plunged deeper into junk territory after Moody’s joined Fitch Ratings in lowering the country’s credit ratings to a level worse than in 1994.
South Africa has fallen deeper into junk territory after Moody’s Investors Service joined Fitch Ratings in lowering the country’s credit ratings on Friday.
SA is now paying less to borrow than at any time in the five years before Moody’s Investors Service removed its last investment-level rating on March 27.
As some clamour for the end of lockdown, a broader reality is ignored: locked down or not, South Africa faces a rising risk of sovereign bankruptcy.
Rating agencies have downgraded emerging market economies during the Covid-19 pandemic; raising the question: why do so during a crisis?
Government has responded to S&P for downgrading South Africa further into junk status amid the coronavirus pandemic spreading.