Today's Big Stories

Is a junk status rating perhaps the wake up call government needs?

The rand has taken a hard knock amid the Gupta controversy and the public spat between the Hawks and Finance Minister Pravin Gordhan.

Meanwhile, officials from ratings agency Moody's are in the country to review a potential downgrade of the country's investment grade.

Chief economist Dr Azar Jammine says, although a downgrade to junk status might teach government a lesson, it will bear negative consequences for South Africa's economic growth.

There are going to be negative effects on the overall economy. In fact, some of the damage has already been inflicted in the form of the collapse of the rand, which will result in higher inflation and a possible interest rate hike.

Dr Azar Jammine, Director and Chief Economist at Econometrix

Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies:


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