Bank of America expects credit upgrading for SA
Institution’s baseline an improving fiscal policy, rate cuttings and smooth elections with status quo retained, says economist Tatonga Rusike
20 March 2024 - 05:00
SA is likelier to be in line for an upgrade of its credit rating than a downgrade, if growth holds up and the elections go smoothly, says Bank of America’s Sub-Saharan Africa economist Tatonga Rusike.
Rusike, who was S&P Global’s country analyst for SA before he joined Bank of America in 2021, said a downgrade of SA’s present double B minus rating to the single B band was likely only in the event of zero or very weak economic growth, a fiscal blowout or a messy election that clouded the policy outlook...
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