Investing offshore the only answer to SA’s latest credit ratings
Downgrade despair set in when all three of the major global credit ratings agencies published their latest decisions for South Africa last week.
Downgrade despair set in when all three of the major global credit ratings agencies published their latest decisions for South Africa last week.
Azar Jammine assess the KPMG/Gupta fallout, concluding that the damage is already being seen in SA’s currency which is reflecting a further decline in investor perceptions.
The rand extended its losses on Tuesday, breaching the R13.30 to the US dollar level as credit rating fears resurfaced.
The South African Reserve Bank said the remedial action proposed by the Public Protector to have its mandate changed had a damaging effect on the country.
Well known economist Azar Jammine unpacks the recent Public Protector’s statement, arguing that the road she’s chosen is a one way ticket to Venezuela.