'Rating agencies are childish and slow growth is the Reserve Bank’s fault'
DUMA Gqubule, founder of the Centre for Economic Development and Transformation, has questioned the credibility of rating agencies and whether SA should be listening to what they say.Rating agency Moody’s was in SA last week."I looked at the credit note on SA … I was shocked. It’s a five-page document … it is such childish and infantile analysis and I don’t think we should be listening to them," Gqubule told the Black Business Council’s annual conference in Sandton, Johannesburg, on Monday."Since when have these ratings agencies become credible?"Moody’s new lead analyst for SA, Zuzana Brixiova, said last week that political divisions were the country’s biggest credit weakness.READ THIS: Divisions in politics are SA’s major weakness, says Moody’sMoody’s is keeping a close eye on political divisions ahead of a planned update to its rating on November 25.In May, Moody’s confirmed SA’s rating, but put it on negative outlook, implying a probability of a downgrade of about one-third.Moody...
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