Ramaphosa tells Moody’s land reform will not negatively affect the economy
The ratings agency will announce its latest outlook on South Africa in two weeks’ time
President Cyril Ramaphosa on Wednesday held discussions with Moody’s on the various initiatives under way to accelerate the country’s economic growth and create jobs. At the meeting‚ which comes just two weeks before Moody’s is set to announce its latest outlook on South Africa‚ Ramaphosa also reaffirmed that accelerated land reform would unfold within a clear legal framework and without negatively affecting economic growth‚ agricultural production and food security. Moody’s is a provider of credit ratings‚ research and risk analysis. This was the first time that the agency had interacted with Ramaphosa since he was elected president last month. Ramaphosa’s meeting with Moody’s follows one that newly appointed Finance Minister Nhlanhla Nene had with the ratings agency on Monday‚ where he outlined the government’s economic and fiscal plans. The Presidency said that at the meeting at Tuynhuys in Cape Town‚ Ramaphosa described the new mood of hope‚ renewal and unity in South Africa — a...
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