Gordhan shrugs off political instability as SA awaits S&P verdict on its credit rating
As South Africa braces for the S&P ratings decision this week, Finance Minister Pravin Gordhan on Tuesday shrugged off concern about political instability, a factor cited by the other two ratings agencies last week. Political tension was raised in reports from Fitch Ratings and Moody’s Investor Services. Gordhan said: "Political certainty ... tell me which country has no political uncertainty. That is the new, new normal in the world. The question is how do we deal with it." He said local political tension was "relatively minor" compared with that elsewhere in the developing world. Gordhan was speaking at a media briefing after a breakfast strategy meeting of business leaders with the government ahead of the World Economic Forum annual meeting in Davos in January. Economists have forecast a build-up in political tension in coming months ahead of the ANC elective conference in December 2017. Support for President Jacob Zuma is waning among members of the ANC national executive commit...
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