Ratings: Why SA is stuck in junk
Despite President Cyril Ramaphosa’s inauguration, S&P takes a sceptical view of SA’s economic reform prospects and forecasts a glacial recovery
Six months ago, S&P Global Ratings held the constructive view that after the 2019 elections, SA’s economic reforms would begin to pay off, boosting growth above 2% over the medium term and helping to rein in government debt.
Not any more. The ratings agency’s latest review, delivered over the weekend, is decidedly more bearish.