No need to fear downgrade yet - economist

Economist Thabi Leoka says investors are still quite skeptical about newly appointed Minister Malusi Gigaba who will have to now prove he can do the job.

There have been questions around the kind of impact the axing of former finance minister Pravin Gordhan will have on South Africa's credit ratings.

Leoka says we should not be worried as yet.

It depends on the communication between the ministry itself and the ratings agencies and they need to be comfortable with what the minister is telling them about how he is going to continue going forward.

Thabi Leoka, Economist

If they feel that politics is interfering with the adoption and implementation of economic policy and fiscal policy then they will downgrade us, but if there is no change in policy then we are safe.

Thabi Leoka, Economist

Click on the link below to listen to the full audio:


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Wits Nehawu members down tools over salaries

Wits Nehawu members down tools over salaries

Nehawu Wits acting secretary Tumisho Madihlaba says negotiations with management deadlocked resulting in a strike.

May the Fourth be with you, a celebration of Star Wars Day

May the Fourth be with you, a celebration of Star Wars Day

May 4 marks "May the Fourth be with you," Day celebrated by fans George Lucas' fans of his Star Wars global movie franchise.

Gordhan: Ratings agencies could take a dim view on SA

Gordhan: Ratings agencies could take a dim view on SA

Gordhan spoke to Bruce Whitfield on Friday, saying there is a lot of work to be done to inspire confidence in foreign investors.

WATCH: Axed Finance Minister briefs media post Cabinet reshuffle

WATCH: Axed Finance Minister briefs media post Cabinet reshuffle

President Jacob Zuma has fired Pravin Gordhan

Rand plummets on back of massive Cabinet reshuffle

Rand plummets on back of massive Cabinet reshuffle

Markets are punishing Jacob Zuma's move and the appointment of a Finance Minsiter with "zero knowledge of how Treasury works".

'Gigaba and his deputy have zero knowledge of how Treasury works'

'Gigaba and his deputy have zero knowledge of how Treasury works'

Economist, Dr Iraj Abedian, says the changes are the biggest since 1996.

Popular articles
Robots are already replacing financial advisors right here in South Africa

Robots are already replacing financial advisors right here in South Africa

But can they be trusted? Are they independent? Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

Retirement: 8 biggest mistakes people typically make…

Retirement: 8 biggest mistakes people typically make…

The Money Show’s Bruce Whitfield interviews Galileo Capital Financial Advisor Warren Ingram.

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Elon Musk, as you’d expect, hails from an exceptional family. Bruce Whitfield interviews his Capetonian father.