Gordhan on his trip abroad to save us from a downgrade (and Gupta allegations)

(Also read "Goldman Sachs MD on how Pravin Gordhan’s fight against a downgrade is going").

Finance Minister Pravin Gordhan gave his report back today on his trip abroad where he tried to convince ratings agencies to give South Africa time to make changes before downgrading the country.

The Money Show’s Bruce Whitfield spoke to the Midday Report’s Stephen Grootes.

Scroll down for quotes from the audio below.

What's the plan if we get downgraded? Get upgraded. It's a simple plan, but it's not as simple to do. Once you get downgraded, on average, it takes you five years, or more, to work your way up again. So, you don't want to end up there as a country, for whatever reason.

Pravin Gordhan

The mood was quite upbeat. I’ve never seen business, labour and government getting on so well together!

Stephen Grootes

The unions aren’t as powerful as they were.

Stephen Grootes

(Also read "Goldman Sachs MD on how Pravin Gordhan’s fight against a downgrade is going").

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This article first appeared on 702 : Gordhan on his trip abroad to save us from a downgrade (and Gupta allegations)


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