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
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
Rugby legend John Smit on how he does not drop the finance ball

Rugby legend John Smit on how he does not drop the finance ball

Rugby legend John Smit opens up about money and career changes.

‘Negotiation, your hottest currency’

‘Negotiation, your hottest currency’

You are just one deal away from turning your dreams into reality.

Stock Pick Monday - AngloGold, TenCent and Moderna

Stock Pick Monday - AngloGold, TenCent and Moderna

Moderna (a Nasdaq listed biotech company developing vaccines), AngloGold, and TenCent are on the menu tonight.

Sasol shares down almost seven per cent

Sasol shares down almost seven per cent

You could buy Sasol today at the same price as you could get it in 2006.

The JSE is a bumpy ride with serious ructions on world markets

The JSE is a bumpy ride with serious ructions on world markets

It started in Asia, went through Europe today, through Africa, we felt it in South Africa....and into the United States.

Justice ministry on a mission to put a stop to criminals repeating offences

Justice ministry on a mission to put a stop to criminals repeating offences

Questions have been raised in the wake of the murder of eight-year-old Tazne van Wyk.

'Soweto residents worried about electricity hike being granted'

'Soweto residents worried about electricity hike being granted'

EWN reporter Kgomotso Modise says the residents say if the tariff increase is granted they will not be able to make ends meet.

Outa lawyer accuses Dudu Myeni of being evasive in court, contradicting herself

Outa lawyer accuses Dudu Myeni of being evasive in court, contradicting herself

Eyewitness News reporter Edwin Ntshidi gives more details of Monday's proceedings.

SA doctor issued sick note to Thabane based on a telephone conversation - report

SA doctor issued sick note to Thabane based on a telephone conversation - report

It was reported last week that the Lesotho prime minister was receiving emergency medical attention in South Africa.

Police hunt for eight suspects after East Rand Mall robbery

Police hunt for eight suspects after East Rand Mall robbery

Eyewitness News reporter Ahmed Kajee says one person has been shot and Entrance 1 has been cordoned off.