‘Treasury [the new team] doesn’t acknowledge that we have a problem’

Standard & Poor’s has downgraded South Africa's sovereign credit rating to “junk” status.

The rating agency says the decision has been taken on the back of political and institutional uncertainty after President Jacob Zuma announced his Cabinet reshuffle in which Pravin Gordhan was axed.

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed KPMG Senior Economist Christie Viljoen.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

There are many levels to go down. This is not the bottom.

Christie Viljoen, KPMG

There’s no positive comment.

Christie Viljoen, KPMG

Treasury [the new team] doesn’t acknowledge that we have a problem.

Christie Viljoen, KPMG

With this; the pace of job creation will remain too slow.

Christie Viljoen, KPMG

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


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
3 best shares to buy right now (by 27Four)

3 best shares to buy right now (by 27Four)

Investment Analyst Nadir Thokan shares his stock picks of the week on Bruce Whitfield’s The Money Show.

'Dismantling, one brick at a time, the 10-year project of State Capture'

'Dismantling, one brick at a time, the 10-year project of State Capture'

The Money Show’s Bruce Whitfield interviews Bonang Mohale, CEO at Business Leadership South Africa (BLSA).

‘Steinhoff: Inside SA’s Biggest Corporate Crash’ author reveals shocking details

‘Steinhoff: Inside SA’s Biggest Corporate Crash’ author reveals shocking details

Exposed! Blonde mistress, racing horses, unparalleled extravagance… The Money Show’s Bruce Whitfield interviews James Brent Styan.

Is solo adventurer Riaan Manser as crazy as he seems when it comes to money?

Is solo adventurer Riaan Manser as crazy as he seems when it comes to money?

Bruce Whitfield interviews Manser about his attitude toward money (hopes and fears, successes and failures, etc.).

Why the rand is going down, down, down…

Why the rand is going down, down, down…

Bruce Whitfield interviews Dr Adrian Saville (Gordon Institute of Business Science) and Rand Merchant Bank Strategist John Cairns.

S&P reshuffles South Africa's credit rating to junk

S&P reshuffles South Africa's credit rating to junk

The rating agency says the decision was taken on the back of political and institutional uncertainty.

Popular articles
[WATCH] Dad dresses up as a mom so his sons don't feel left out on Mother's Day

[WATCH] Dad dresses up as a mom so his sons don't feel left out on Mother's Day

Khabazela shares Facebook posts, YouTube videos that have gone viral including one with the smartest dogs.

How long should you wait for a funeral cover payout?

How long should you wait for a funeral cover payout?

Long-Term Insurance Ombudsman Jennifer Preiss explains some queries they receive with regards to funeral covers and payout times.

Nxasana questions why Minister Masutha's involvement is not being challenged

Nxasana questions why Minister Masutha's involvement is not being challenged

Former NDPP Mxolisi Nxasana says he didn't know the payout he received was a golden handshake.

'DA has a tough choice, ditch divisive leaders or face the ire of the voters'

'DA has a tough choice, ditch divisive leaders or face the ire of the voters'

Breakfast show host Bongani Bingwa reacts to the recent tweets by some DA leaders.

[LISTEN] Is your phone listening in on your conversations?

[LISTEN] Is your phone listening in on your conversations?

MD at World Wide Worx Arthur Goldstuck explains how your phone may record your voice conversations.

JHB CBD muggings - Where are the police ?

JHB CBD muggings - Where are the police ?

City of Joburg mayor Herman Mashaba says undocumented people living in the city make it difficult to combat crime.

Castro bodyguard shares tales of dictator’s double life and breath-taking wealth

Castro bodyguard shares tales of dictator’s double life and breath-taking wealth

Juan Sanchez shares stories of Fidel Castro that’ll make you re-examine everything you thought you knew about the Cuban dictator.