South Africa dodged a third “junk” rating on Friday, when Moody’s Investors Service kept the country’s credit rating unchanged.
Moody’s also changed the nation’s outlook from “negative” to “stable”.
It mentioned “more transparent and predictable policies” under President Cyril Ramaphosa as reasons for the improving outlook.
The recent change in political leadership appears to have halted the gradual erosion of the strength of South Africa’s institutions.— Zuzana Brixiova and Marie Diron (Moody’s analysts)
The Money Show’s Bruce Whitfield interviewed Finance Minister Nhlanhla Nene.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
Of course, we were anxious...— Nhlanhla Nene
It [land] is a sensitive subject… the fact of the matter is that if it is not addressed… it has the potential to pose a risk… all the stakeholders will get an opportunity for putting their views across… we’ll have to take into account food security… and the impact on the economy…— Nhlanhla Nene
When you’re called upon to serve the country… the country is bigger than all of us…— Nhlanhla Nene
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