Goldman Sachs MD on how Pravin Gordhan’s fight against a downgrade is going

(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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This article first appeared on 702 : Goldman Sachs MD on how Pravin Gordhan’s fight against a downgrade is going


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