The Treasury has welcomed the reprieve from Moody’s. “It means that [the] government has been given another opportunity to improve on the concerns raised by the rating agency,” the Treasury said in an e-mailed response to Business Day. “The main focus for [the] government is to regain SA’s investment grade status to make the country an even more attractive investment destination.” The credit ratings agency did not release a scheduled report on South Africa’s sovereign credit rating on Friday. South Africa’s debt is rated at Baa3 by the agency, one notch above junk status, with a stable outlook. The Treasury said enhancing policy certainty and credibility, lowering the debt burden as well as restoring good governance and financial stability at public institutions and state-owned entities (SOEs) would help the country to remain above investment grade. “[The] government will continue to engage with all stakeholders in order to fast track the implementation of growth-enhancing economic ...

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