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Gigaba press conference called off

12 June 2017 1:27 PM
Tags:
Malusi Gigaba
Credit ratings
South Africa credit rating
Finance Minister Malusi Gigaba
credit ratings downgrade
Moody's
Finance Minister Malusi Gigaba was going to answer questions after a Moody's downgrade on Friday.

Finance Minister Malusi Gigaba has postponed a press conference scheduled for Monday to highlight the way forward for the country’s economy.

The minister was expected to respond the Moody’s ratings agency decision to drop its rating a notch to Baa3, with a negative outlook.

His office says he has to attend a meeting with the African National Congress leadership today.

Stephen Grootes spoke to economist Lumkile Mondi.

Both the ministers should walk the walk and resign. Not only do we not have confidence as South Africans, how much more do investors have confidence in any programme put on the table by a minister, a deputy and president who continue to have a cloud hanging over their heads?

Lumkile Mondi , Economist and senior lecturer at Wits University School of Economics

READ: Gigaba set to address media on state of SA economy

ALSO READ: Gigaba needs credible team before convincing business and labour - economists

All these leaks, our arms of law have not done anything. We need a long-term plan, which we have in the form of the National Development Plan. However, the current governing ANC leadership refuses to re-emphasise the National Development Plan and tell South Africans how it is implementing it.

Lumkile Mondi , Economist and senior lecturer at Wits University School of Economics

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12 June 2017 1:27 PM
Tags:
Malusi Gigaba
Credit ratings
South Africa credit rating
Finance Minister Malusi Gigaba
credit ratings downgrade
Moody's