Economist concerned about Moody’s latest credit rating
Written by Lethiwe Mdluli on 5 November, 2019
Economist, Dawie Roodt, is concerned about Moody’s latest credit rating to South Africa.
The agency changed the country’s outlook from stable to negative but affirmed the Baa3 long term foreign currency and local currency issuer ratings.
It stated that the change in outlook reflects the material risk that the government will not succeed in arresting the deterioration of its finances through a revival in economic growth and fiscal consolidation measures.
Roodt says government must work hard to avoid a debt trap trajectory.
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