RATING WORRIES
Frank talk as state of SA is assessed
The breakdown in trust between business and the government in the aftermath of the midnight Cabinet reshuffle was also a matter of focus
Business, labour and the ANC all made frank assessments about the state of SA last week when they met with representatives of S&P Global Ratings, Moody’s Investors Service and Fitch. Business identified the governance of state-owned entities, particularly Eskom, and rising contingent liabilities as being among the main risks to SA’s fiscal consolidation. Goldman Sachs MD Colin Coleman, who was in the business delegation that met with the sovereign credit ratings agencies when they were in SA, said: "We shared our views in depth ... the risks are accentuated in the context of slow growth of around 1%. "[The] ratings agencies also focused on business confidence and business assistance to government to drive the structural economic reform agenda." The breakdown in trust between business and the government in the aftermath of the midnight Cabinet reshuffle was also a matter of focus. "We updated the ratings agencies on the proposal business discussed with the president, which we’re expe...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.