HILARY JOFFE: Global indices and ratings agencies have got our number
Ramaphosa’s administration is getting credit for restoring the checks and balances that were so eroded in the Zuma years
It's ratings and rankings season for SA, bringing good news and bad. The World Economic Forum's (WEF's) global competitiveness index came out this week, showing a surprise jump in the rankings for SA, which moved up seven positions to rank 60th out of 141 economies. The World Bank's ease of doing business index is expected out on November 24, and that's an important one because President Cyril Ramaphosa, in his state of the nation address, committed SA to achieving a ranking in the top 50 — ambitious, given that SA has been stuck at 82 for the past couple of years.
Welcoming SA's climb in the WEF index, the president said this was a sign that structural reforms to stimulate the economy "are slowly but surely gaining traction", adding, rather hopefully, that he looked forward to the release of the World Bank index. But if he's hoping SA will vault up those rankings too, he may be disappointed.