Streaming issues? Report here
Pippa Hudson 2019 1500 BW 2
Lunch with Pippa Hudson
13:00 - 15:00
volume_up
volume_mute

Up Next: Afternoon Drive with John Maytham
See full line-up
Lunch with Pippa Hudson
13:00 - 15:00
Home
arrow_forward
Business

'SA faces a full-on downgrade if nothing is done about our debt profile'

4 November 2019 7:53 AM
Tags:
Moody's
Moody's credit rating
2019 economy
MTBPS2019
Senior FNB economist Siphamandla Mkwanazi gives an analysis of the latest Moody's rating for South Africa.

Senior FNB economist Siphamandla Mkwanazi has urged policymakers to take the Moody's ratings seriously.

On Friday, Moody’s decided to keep the country one notch above sub-investment grade, changing its outlook on the country’s credit rating from stable to negative.

Moody’s states that South Africa’s economic growth has been deteriorating and showing no signs of improvement.

Speaking to Refilwe Moloto, Mkhwanazi says what is important is the stabilisation of the country's debt.

It was quite a strongly worded statement from Moody's, quite uncharacteristic of Moody's so far as South Africa is concerned.

Siphamandla Mkwanazi, Senior FNB Economist

Potentially we could be looking at a full-on downgrade within the next 12 to 18 months or so especially if nothing is done regarding our debt profile.

Siphamandla Mkwanazi, Senior FNB Economist

Mkwanazi says South Africa's debt levels were a concern in February but the forecasts were that it would stabilise.

This time around debt is not stabilising and it's a scary picture

Siphamandla Mkwanazi, Senior FNB Economist

Listen to the full interview below...

Subscribe to our Business Wrap Newsletter


4 November 2019 7:53 AM
Tags:
Moody's
Moody's credit rating
2019 economy
MTBPS2019

More from Business

candle-dark-electricityjpg

'Black candidate would’ve been great, but we support De Ruyter’s appointment'

20 November 2019 10:56 AM

“For the good of all of us, we support him,” says Sandile Zungu (Black Business Council).

Share this:
Read More arrow_forward

investec.JPG

Investec Asset Management renames to Ninety One ('when Siya Kolisi was born!')

20 November 2019 10:00 AM

"It’s a year when the world changed fundamentally," says founder Hendrik du Toit. "The USSR ended and Siya Kolisi was born!"

Share this:
Read More arrow_forward

SAA

Workers abandoning the strike are being intimidated – SAA

20 November 2019 9:12 AM

The SACAA says SAA is safe, despite union claims to the contrary. SAA is taking legal action, says board member Martin Kingston.

Share this:
Read More arrow_forward

business-job-employee-work-pexels-photo-669615jpeg

Most South African entrepreneurs are educated - survey

20 November 2019 8:57 AM

Seed Academy director Donna Rachelson says the survey included 1000 participants from around the country.

Share this:
Read More arrow_forward

191007-david-scott-kiffnessjpg

I see money as energy – David Scott, The Kiffness

19 November 2019 1:47 PM

The new billionaire is not the person with a billion rand, but the person who can touch a billion people’s lives, says Scott.

Share this:
Read More arrow_forward

student-entrepreneurs-cape-town-finalists-gseajpg

Two Cape Town student entrepreneurs competing for a spot in global awards

19 November 2019 12:49 PM

Two students are hoping to be crowned as the winners of a competition for student entrepreneurs worldwide.

Share this:
Read More arrow_forward

mr-price-logojpg

3 best JSE shares to buy, right now (by The Robert Group)

19 November 2019 12:24 PM

Devin Shutte (Head of Investments at The Robert Group) shares his stock picks of the week with Bruce Whitfield on The Money Show.

Share this:
Read More arrow_forward

Gavin Watson

How Gavin Watson's Bosasa - born from ANC Women’s League – captured the State

19 November 2019 11:29 AM

Bruce Whitfield interviews News24 Editor Adriaan Basson, author of "Blessed by Bosasa - Inside Gavin Watson's State Capture Cult".

Share this:
Read More arrow_forward

christmas-brilliance-garden-of-lights-event-marketing-imagejpg

Garden of Lights event organiser must issue refunds, says WC consumer watchdog

19 November 2019 11:02 AM

The consumer protection authority in the province is adamant that the event organiser must give people their money back.

Share this:
Read More arrow_forward

vida-cafe-signjpg

CT store was out of line for Independent Media boycott poster - Vida e caffè CEO

19 November 2019 10:15 AM

Coffee shop franchise CEO Darren Levy condemns a poster in one of its stores claiming to be an "Independent Media Free Zone”.

Share this:
Read More arrow_forward