I HAVE a new hashtag, #forheavenssakepayhimthemoney. It seems probable — perhaps not inevitable, but close — that SA will be downgraded to junk-debt status at the end of the year.What will happen then? And is there any way to avoid it?I grow more pessimistic by the day. Growth hasn’t leapt up, inflation hasn’t dropped and, most importantly, the ratings agencies have said very specifically they want to see active steps to improve SA’s governance efficacy.Just as a reminder, this is exactly what S&P Global Ratings said when granting SA a downgrade reprieve in June: "We could also lower the ratings if we believe that institutions became weaker due to political interference affecting the government’s policy framework."What happened last week is exactly that. In the words of Deputy President Cyril Ramaphosa no less, the government is at war with itself. Hawks Maj-Gen Mthandazo Berning Ntlemeza, who was happy to begin his career as a policeman during the apartheid era and who has been dec...
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