"Unreliable electricity supply, persistent weak business confidence and investment as well as long-standing structural labour market rigidities continue to constrain South Africa's economic growth," Moody's said, adding that these factors mean South Africa is entering a period of much lower global growth in an "economically vulnerable position."
In a statement Monday, Gable suggested that whether South Africa will return to investment grade or slide further away relies on the country demonstrating "significant improvement" in its economic reforms. Mboweni announced the creation of a unit within the finance ministry called "Vulindlela" – which means "lead the way" in isiZulu – that "will become the front soldiers of structural reforms in the South African economy," according to a research note Monday from NKC African Economics.
your Ticker burns a line into my LED Smart TV screen. So I can't watch. Shame.