MARKET WRAP: Rand extends losses as Fitch throws cold water on SA’s debt hopes
The JSE dropped for a third day running with banks faring the worst
26 June 2020 - 18:22
The rand extended losses on Friday after Fitch Ratings said SA is unlikely to achieve its plans to stabilise debt levels within four years.
“This reflects persistent challenges in reducing expenditure, boosting growth and insulating public finances from struggling state-owned enterprises, as well as reflecting the impact of the coronavirus pandemic, which will drive a sharp rise in debt to GDP this year,” Fitch said in a statement on Friday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.