Business Maverick: Moody’s stands pat and SA’s economy breathes a sigh of relief – for now

Seldom has the saying “no news is good news” been more true. Moody’s Investor Service on Friday declined to issue a new rating on SA’s debt, meaning the country remains on the cliff edge of junk status, but has not yet been tipped into the crevasse.

According to a Bloomberg poll, half of SA’s economists felt the country would be downgraded, and it’s not hard to see why: Eskom blackouts will probably lead to even poorer growth prospects than were already predicted. In fact, the Reserve Bank itself slightly downgraded SA’s growth for the year as recently as Thursday this week.

Head of Capital Markets Research for Econometrix Peter Attard Montalto said after no report was issued that “South Africa has been denied its cathartic moment of actually knowing Moody’s opinion and updated views”.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Business Maverick: Moody’s stands pat and SA’s economy breaths a sigh of relief – for nowIt all depends if they are in a good moody, or a bad moody, said Rico’s cartoon in Friday. Turns out they were in a good moody. AngeloCoppolaSA
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick Friday Cartoon: Good Moody, Bad Moody
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

BUSINESS MAVERICK: Take more savings offshore, money managers urge SA investorsIncreasingly, financial advisers are recommending that SA investors take as much of their discretionary investments out of the country as they can. But is taking 100% of your investment income out of the country sensible, never mind unpatriotic?
La source: dailymaverick - 🏆 3. / 84 Lire la suite »