LUKANYO MNYANDA: Let's hope Ramaphosa makes wise use of Moody's decision
Markets could show us today whether the ratings agency's decision means anything
Was it a stay of execution or a reprieve for SA? North West University Business School economist Raymond Parsons figured it was the latter. He was responding to the non-event that was Moody's Investors Service's review of SA's credit rating scheduled for Friday, keeping many an analyst awake well into the second hour of Saturday. In the end the company, which was widely expected to change its outlook from stable to negative, setting the country on course to lose its last remaining investment-grade rating later in 2019, chose to do nothing. It did not give a reason for staying put, leading people to speculate. Some have said that with an election coming up in just over a month Moody's didn't want to risk making such a big move with elections on the horizon. That's odd. When is there ever not a big event on the cards in SA? What do they think could happen on May 8 to enable them to make a simple call on whether the country can repay its debt that they can't make now? Markets might giv...
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.