Moody’s predicts more pain before slow economic recovery
The ratings agency says SA government finances and debt profile will first deteriorate further
Credit ratings agency Moody’s expects SA’s government finances and debt profile to deteriorate further and economic growth to recover only slowly over the next two years.
It said this after its postponement of its SA credit rating propelled the rand to its biggest gain against the dollar so far in 2019.
The agency said in a report on Tuesday that it expected the country’s credit profile "to remain in line with those of Baa3-rated sovereigns", partly explaining why it chose not to take a rating decision as scheduled on March 29.
If you are already a subscriber, please click on the following link to go to the full article: Moody’s expects slow SA economic upturn
According to Moody's social and political divisions are creating policy uncertainty in South Africa.