Will South Africa Be Cut Some Slack or Face Moody's Blues?
Trade and Industry Minister Rob Davis is hoping for mercy from ratings agency Moody's as South Africa faces an economic crisis in the face of energy giant Eskom's battle to keep the lights on in the country. Davis said: "It's pretty obvious that if we are having load shedding it is going to have a dampening effect on our economy. "It's going to mean that production is not happening at the scale it was meant to be."
With the country experiencing a roller coaster ride in credit ratings in the past few months, the National Treasury has welcomed the decision by ratings agency Moody's to ... Read more »
President Cyril Ramaphosa will have his work cut out for him, in order to rebuild a country whose economy has been battered by ratings agency downgrades, a falling rand, a bloated ... Read more »
When international ratings agencies like Moody's or Fitch downgrade countries, the economies of these nations suffer. African governments have had enough and are retaliating ... Read more »
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