SA Government’s Response To The Rating Decision By S&P Global Ratings

S&P has announced a decision to affirm South Africa’s long term foreign and local currency debt ratings at ‘BB’ and ‘BB+’ respectively, and maintain the stable outlook. According to S&P, the rating affirmation is underpinned by the following drivers: “Anemic economic growth in 2018 and high contingent liabilities continue to weigh on South Africa’s fiscal prospects”. “The new government is pursuing a series of economic reforms that should help boost the economy from 2019, despite structural


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