Why a ratings downgrade may just be the medicine South Africa needs

The Money Show’s Bruce Whitfield interviewed Ian Cruickshanks, Chief Economist at the Institute of Race Relations.

Cruickshanks believes a rating downgrade is the right medicine for South Africa.

Scroll down for quotes from the audio below.

We’ve seen all this before! 31 years ago international banks withdrew their facilities from South Africa.

Ian Cruickshanks, Chief Economist at the Institute of Race Relations

After 1985 it was very difficult to do any international trade and the Reserve Bank was almost broke.

Ian Cruickshanks, Chief Economist at the Institute of Race Relations

A downgrade may just cause common sense to prevail.

Ian Cruickshanks, Chief Economist at the Institute of Race Relations

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