Ratings agency Moody’s has changed its outlook on South Africa’s credit ratings from stable to negative. The BAA 3 rating is the lowest category in the investment-grade stable.
Unless South Africa gets its finances in order, a downgrade to junk status will be inevitable.
Following Friday’s announcement, government said reforms need to be implemented urgently to avoid a further credit down grade to junk status. But, what does this all mean? How does it affect the average South African?
Let’s discuss this now with our SABC Business News anchor Nompumelelo Siziba and economist Lavan Gopaul.
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