SA�s credit downgrade seen affecting Botswana
Friday, April 07, 2017
The rating agency this week downgraded SA to BB+, otherwise known as junk status, from BBB-, citing the latest changes to that country’s cabinet as a contributing factor.
According to experts, this credit rating places the rating below investment grade.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...