Finance Minister Pravin Gordhan spoke to The Money Show's Bruce Whitfield on the line from London about the ratings downgrade being averted. Standard & Poor’s decision to maintain the country's investment rating has come as a relief to South Africans.
We are indeed a resilient nation and if we have many things going for us. And if we build on this in a constructive, positive and united way, we can start getting positive results.— Finance Minister Pravin Gordhan
Gordhan says it is a good start and has demonstrated that South Africa has a very clear growth and reform programme, and that we have started implementing some of the changes. The next six months are crucial in accelerating these changes.
Listen to the interview with Minister Pravin Gordhan below, as well as reactions from Investec’s Nazmeera Moola and Peter Attard Montalto Emerging Markets Economist and Strategist at Nomura.: