SA has a long road ahead to convince ratings agencies
Moody’s and Fitch are sceptical that SA can deliver on a slower debt trajectory and planned spending cuts
28 February 2021 - 18:25
Despite a 2021 budget that committed to greater fiscal consolidation, both Moody’s Investors Service and Fitch Ratings appeared doubtful about the government’s ability to deliver on all its promises.
Finance minister Tito Mboweni’s recent budget attempted to balance support for an economy still reeling from the Covid-19 pandemic with firm commitments to spending restraint, in particular suppressing the public sector wage bill...
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