Moody’s decision to maintain South Africa’s credit rating is no cause for celebration, says economist Dr Iraj Abedian.
The ratings agency affirmed the country's status at two notches above junk status, but gave the country a negative outlook.
If you read the fine print on economic growth, we've been downgraded in terms of outlook.— Dr Iraj Abedian, chief economist at Pan African Investment Research
According to Abedian, the decision shows that those in charge of the economy are not doing enough to revive it.
He says that government needs to address what can be done to restore confidence in the economy and the governance in the country.
It's the Cabinet that has to look at itself, its conduct, its policy and ask: what do we need to do to restore confidence in the South African economy.— Dr Iraj Abedian, chief economist at Pan African Investment Research
Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies: