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Gigaba said he failed to assure Moody's about SA economic policy- senior journo

23 April 2017 11:32 PM
The Finance Minister admitted that he faced difficult questions from investors during his visit to the US, says Simon Marks.

Finance Minister Malusi Gigaba admitted that he failed to assure the international rating agency, Moody's, about South Africa's economic policy.

Moody's is the only international rating agency out of the big three that has not downgraded South Africa to junk status since the Cabinet reshuffle last month.

Read: Gigaba claims S&P forewarned him of downgrade in confidence

President and chief correspondent at Feature Story News, Simon Marks, says he met with the Finance Minister after his meeting with Moody's.

Also read: What being downgraded to junk status really means

He said no. They [meetings] did absolutely no assurance. They are planning to send a team to South African next month... to try and get a real sense of what is taking place.

Simon Marks, president and chief correspondent at Feature Story News

Gigaba was in Washington last week to participate in the annual spring meetings of the International Monetary Fund and World Bank.

Marks says Gigaba has also said he plans to reorganise the investor roadshow that former Finance Minister Pravin Gordhan could not attend after being called to come back by President Jacob Zuma.

The minister says he wants to recognise that investor road show for a little later this year.

Simon Marks, president and chief correspondent at Feature Story News

Listen to the full interview with Simon Marks below...


23 April 2017 11:32 PM