Fitch downgrades SA further into junk, government reiterates commitment to economic structural reforms - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Fitch downgrades SA further into junk, government reiterates commitment to economic structural reforms

Finch attributed the downgrade to the lack of clear paths by government on how it will stabilise its debt.

Fitch attributed the downgrade to the lack of clear paths by government on how it will stabilise its debt. “In the midst of the prevailing financial markets stress emanating from COVID-19 and credit ratings downgrades by Moody’s and Fitch, government reiterates its commitment to implement structural economic reforms to address weak economic growth, constrained fiscus and ailing state-owned companies. Furthermore, government continues to prioritise and implement measures announced by the President aimed at containing the spread of COVID-19 as well as limiting its impact on the economy.

 

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That is unfair, we are busy with corona virus, they are busy downgrading. God is killing them, look at Italy, Spain, Uk hope you have downgraded them.

These are all thugs

Guys stop blaming the rating companies for bad timing. We have been warned for years now, we knew the Rand was the frog in low water. This is only the ANC fault.

FatalMoves Government has to do away with bee and put people that are qualified to do the job. Jobs should be given on merit and not on gender or color. Bringing South Africa to true equality and Democracy. That’s our only way forward. CyrilRamaphosa GovernmentZA GautengANC

Whenever white privileges are threatened then follows a downgrade. Umhlaba ngamasimba endawo

Did they rate Italy as junk as well? Ngiyazibuzela nje.

What are they trying to achieve?

These rating agencies have no timing.

The rating agencies are telling those that they serve - the foreign investors/lenders, that with land expropriation without compensation about to be law in South Africa, investors shouldn't invest in RSA. This is not rocket science. Hoekom is RSA leiers dom?

The government needs to fix what is did and stop this nonsense ASAP

FatalMoves Thanks MYANC GovernmentZA. It took you only 26 years... And do not blame the pandemic.

SA and other developing countries must just dump these agencies and firm their's. They ones are there to further delay the economic growth nothing else.

Rating agencies brace for backlash after rash of downgrades via financialtimes

Which country’s economy is doing great these days given this corona virus pandemic? 🤷🏿

What's gonna happen when land is expropriated?

Take your ratings and f off

Baphi oMalema neqembu lakhe bemashe

How low can they go? Junk is Junk, No further down, the Only way Now is up!! Sa econòmic Rise! Watch.

I'm not sure whether these forced structural reforms will benefit ordinary South Africans or a few elite well to do and extremely rich individuals. I've not seen any economic reform in a capitalist environment benefiting the poor.

From bad to worse

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