'Downgrade of Emerging Economies in Times of Crisis, A Bad Idea'

A number of rating agencies have downgraded emerging market economies during the COVID-19 pandemic. This is not the first time ratings agencies have adopted a procyclical approach - that is, one in which bad news is simply piled on bad news, writes Mishak Mutize for The Conversation. Several African countries, including South Africa, Tunisia, Nigeria and Namibia are feeling the effects of Moody's, Standard & Poor's and Fitch changing their ratings.

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