Moody’s sceptical of SA’s debt consolidation plans
A sharp contraction in growth and revenue suggests debt stabilisation by 2023 is unlikely, says the ratings agency
25 June 2020 - 22:03
Ratings agency Moody’s Investors Service expressed scepticism that SA could achieve its debt stabilisation aims outlined in finance minister Tito Mboweni (https://www.businesslive.co.za/bd/economy/2020-06-24-battle-with-debt-at-heart-of-mbowenis-special-budget/)'s supplementary budget on Wednesday.
In a statement late on Thursday evening Moody's said that “stabilising debt by 2023 in line with the government's target laid out in this budget will be very difficult to achieve given the challenging growth outlook and fiscal rigidities”. ..
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