Standard and Poor’s says that “the economic crises President Jacob Zuma plunged the country into with his midnight cabinet reshuffle” prompted it to hold an emergency meeting instead of the scheduled review on 2 June.
It’s at that meeting the ratings agency decided to downgrade South Africa’s sovereign credit rating.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
With this move we think the risk of budgetary slippage is higher than it used to be.— Ravi Bhatia, Standard and Poor’s
The Finance Ministry is in the eye of the storm.— Ravi Bhatia, Standard and Poor’s
If growth improves - and the fiscus is kept under control - then there’s no reason why South Africa can’t go back to investment grade.— Ravi Bhatia, Standard and Poor’s
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator’s Pavlo Phitidis.
The Money Show’s Bruce Whitfield interviews Dracore Data Services CEO Chantelle Fraser.
The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.
The Money Show’s Bruce Whitfield interviews Stuff magazine’s Toby Shapshak.
Bruce Whitfield interviews Peter Hain (Wits Business School) and Steven Powell (Director in Forensics at ENS Africa).
Arabile Gumede interviews KPMG Senior Economist Christie Viljoen.
The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.
A policing expert explains that the airport shooting may be linked to the shooting at a Stellenbosch nightclub this past weekend.
Independent Marketing Consultant in the Technology Space, Andrew Fraser says this looks like a leak and not a hack.
The incident happened in the early hours of Wednesday morning.
A Cape Town man was stabbed to death on Saturday while trying to assist two women who were being mugged on Kloof street.