(Also read "How Pravin Gordhan’s fight to stave off a ratings downgrade is going".)
The Money Show’s Bruce Whitfield interviewed Colin Coleman, Managing Director of Goldman Sachs.
Coleman – who was in London with Finance Minister Pravin Gordhan to deal with a possible ratings downgrade for South Africa – gave feedback.
Scroll down for quotes from the audio below.
The Minister asked us to attend this patriotic endeavour.
— Colin Coleman, Goldman Sachs
Pravin Gordhan did a fantastic job. His team is outstanding.
— Colin Coleman, Goldman Sachs
We’ve probably won some time; until June.
— Colin Coleman, Goldman Sachs
Eskom is a core focus. South African Airways also.
— Colin Coleman, Goldman Sachs
Brazil, Russia, Turkey… They all have similar problems.
— Colin Coleman, Goldman Sachs
The centre piece of this all is to move growth to above one percent.
— Colin Coleman, Goldman Sachs
If we implement some basic reforms within the next month or two we might win another six months.
— Colin Coleman, Goldman Sachs
The business community has great confidence in Pravin Gordhan.
— Colin Coleman, Goldman Sachs
South Africans must get behind this process. A downgrade is bad for everybody.
— Colin Coleman, Goldman Sachs
It’s better for us to take the pain we need to take.
— Colin Coleman, Goldman Sachs
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