Economic news of the week: Was Moody's in a mood or did SA have it coming?
Loading player...
In this edition of the Business Day Spotlight, we look at the impact and effects of the recent Moody’s downgrade on the SA economy.
Our host Mudiwa Gavaza is joined on the line by Jacques Nel, head of Africa Macroeconomic research at NKC African Economics to discuss the impact of the downgrade and ongoing Covid-19 crisis.
This past week, international ratings agency, Moody’s issued a country rating for SA. After being the only ratings institution still holding the country above investment grade, Moody’s finally downgraded SA’s profile given issues like the budget deficit and problems with state-owned enterprises.
Even with the effects of corona doing much to dampen economic activity in the country, Nel says the downgrade by Moody’s had been expected.
The discussion also looks at the impact of global events on the Rand, outlook for economic growth, the recent US jobs report, and the role that policymakers have to play to get the country on the path to growth.
Our host Mudiwa Gavaza is joined on the line by Jacques Nel, head of Africa Macroeconomic research at NKC African Economics to discuss the impact of the downgrade and ongoing Covid-19 crisis.
This past week, international ratings agency, Moody’s issued a country rating for SA. After being the only ratings institution still holding the country above investment grade, Moody’s finally downgraded SA’s profile given issues like the budget deficit and problems with state-owned enterprises.
Even with the effects of corona doing much to dampen economic activity in the country, Nel says the downgrade by Moody’s had been expected.
The discussion also looks at the impact of global events on the Rand, outlook for economic growth, the recent US jobs report, and the role that policymakers have to play to get the country on the path to growth.
