Rating agency Moody's has cut South Africa's sovereign credit rating to sub-investment grade.
The South African Federation of Trade Unions says Moody’s decision comes at the worst time possible. SAFTU Secretary General Zwelinzima VaviSA says while it was expected, it is nonetheless very disappointing as it comes at a time when the country battles the coronavirus.is once again a warning to a corrupt government.
The party’s Shadow Minister of Finance Geordin Hill-Lewis says although the COVID-19 crisis has also worsened the country’s economic outlook, government’s refusal to implement structural reforms is to be blamed.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
SACP helped the ANC to destroy the contry's economy, now they want to complain when the junk status they put our country in is confirmed. Bloody capitalists!
The Sacp has one member....so are less represented than the Verwoerds
Interesting ..I wonder why is South Africa always being downgraded ...we need to start keep South Africa for its people..maybe then we wont be in shit street ...
Who's heartless Moody's or those who cleaned state coffers & looted billions of taxpayers money & now S.A. is bankrupt..everyone was watching & doing nothing whilst state was corrupted & mismanaged..now u have a luxury of seeing heartless Moody's..useless liars
I wish the SACP will just go away. They have no solutions to offer. Their racist National Democratic Revolution including cadre deployment and the growing threat to property rights are the problem and most certainly not credit rating agencies.
It doesn't make sense to judge an economy during a global pandemic. There should be some kind of moratorium on these agencies.
Who is moody, I hope Corona visit them so we don't hear from them again.
Lool they blaming Moody's, if it was Zuma in charge they were going to blame him
Oh please just tell them to fokof
In the midst of a global pandemic, they choose to find ways to suppress the African Child !
Heartless .
BUT NO ONE NOTICED EXCEPT MOODY ITSELF...WE WILL INDEED OICK OURSELVES OUT OF THIS DISASTER AND WILL BOUNCE BACK BETTER PEOPLE ,IF WE CAN MAINTAIN THE MOMENTUM AFTWR 21 DAYS.
The truth is Moody's has been very very lenient and patient with us they really tried, they had to downgrade otherwise they ran the risk of losing credibility
They never said this during Zuma's tenure now that they received a junk of 1b Cr17 campaign money, the bouncers are now defending the defenceless
Wasn't this Moodys lot implicated and fined for corruption or something?
All moodys do is report
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SA rugby legend tests positive for COVID-19, urges South Africans to follow the rules - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Springbok rugby legend Danie Gerber has contracted the coronavirus. Gerber says he travelled a lot in the past two weeks, including more than four flights, and it is impossible to say where he picked up the virus. Was the LockDown a good Idea after all seems like we want to flatten something that is on the rise sabcnews Danie Gerber - 61 years old. Downs to ownwhere he caught the virus. No need to open the story peeps if u are short of data. tough with CoronaVirus and no sport. watching NGW snake in the city. Program recorded in Durban. i imagine there is one around.
Source: SABC News Online - 🏆 32. / 51 Read more »
South Africa under lockdown in bid to stem COVID-19 outbreak - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Defence Minister Nosiviwe Mapisa-Nqakula says she believes that the 21-day national lockdown will yield positive results in slowing the spread of the coronavirus. Coronavirus COVID-19 via SABCNews I really would like to believe that, but you will actually see an increase after 2 weeks....sad but its a fact. But lets stay positive She must stop putting whites women hairs, as if she is psychologically enslaved. Oh, I forgot, the ANC is helping whites maintain brown Africans as their property. How would one know for sure if the defending SANDF soldier is covid free before he interacts with the covid free errant wondering citizen... Cos clearly the SANDF are enforcing their own social distancing amongst each other
Source: SABC News Online - 🏆 32. / 51 Read more »
SA COVID-19 infections rise to 1170, death toll reduced to one - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Minister in the Presidency Jackson Mthembu, says the number of coronavirus infections now stands at 1170 and the death toll has been reduced to one person. Ok Jackson 🙄 Eh reduced? 🙄 Reduced to 1 how JacksonMthembu_
Source: SABC News Online - 🏆 32. / 51 Read more »
Few taxis are operating in Durban as South Africa begins three-week lockdown - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Few taxis were seen operating in and around the taxi ranks of Umlazi, South of Durban, this morning as South Africa began its first day of a nationwide lockdown. Lockdown via SABCNews Talk about people who rent in complex,flats,rooms and shops and how they should handle the situation with their landlords during this situation. SAPoliceService CyrilRamaphosa khuselaS DrZweliMkhize MbalulaFikile They must obey the rules.
Source: SABC News Online - 🏆 32. / 51 Read more »
South Africa records first COVID-19 deaths - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The two fatalities occurred in the Western Cape - one at a private hospital and the other at a public health facility. The country has over 1000 confirmed COVID_19 cases, with Gauteng recording over 400. Covid19SouthAfrica sabcnews Ok so we are in a 21-day lockdown....people strolling the streets....where the police? Over 1000 cases...10,000 WHAT IS YOUR POINT 😣😣😣
Source: SABC News Online - 🏆 32. / 51 Read more »
Moody's downgrades South Africa to 'junk' status - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Moody’s downgraded South Africa’s sovereign credit rating to “junk” status on Friday, heaping more misery on an economy already in recession and now staring down the barrel of a steep contraction over the global coronavirus pandemic. Give us a break while we find our way out of the current pandemic. We will talk about your bias and opportunistic ratings when our lives are no more in danger of COVID-19 please Never rain but pours Dear Mr PresidencyZA now is the time to be as decisive as you have been with COVID-19 with economic reforms and getting rid of the Zuma RET Faction. All the evidence is there. You just need to act on it. Please. We will stand with you.
Source: SABC News Online - 🏆 32. / 51 Read more »