THE YEAR THAT WAS: SA’s inexorable slide into junk status
SA has been sliding towards an all-round junk credit rating for the past two years. Slow growth, high unemployment, toxic politics, uncertain or outright harmful policy choices, and rampant corruption in the entities government funds are among the reasons.
The pace of the deterioration picked up in 2017.
Here is how it happened, and a look at what it means:
S&P Global’s annual credit conference in Johannesburg