The new finance minister has a difficult task, but analysts say his political capital will help him hold a hard line on state spending
President Cyril Ramaphosa is set to announce the government’s long-awaited economic stimulus plan to deal with the effects of Covid-19. The key will be getting loans for a stimulus without ‘selling’ the country.
The ways in which we respond to the coronavirus pandemic will determine the world that greets us when we emerge from lockdown
Treasury says the credit ratings downgrade “could not have come at a worse time”, as country enters a 21-day Covid-19 lockdown with little money saved up
The fiscus loses millions each day because of illicit trade. Sars can’t tackle this problem alone: it is up to all citizens to play their part
The ratings agency is scheduled to announce its decision on a possible downgrade of SA credit worthiness on March 27
South Africa’s credit rating outlook is revised from stable to negative, but not downgraded to junk status at this stage
Not even a Ramaphosa win can resolve problems in the short term, making a downgrade likely
S&P Global has downgraded SA’s credit rating to full junk status, while its counterpart Moody’s has placed the country on review for downgrade.
The customs union nations have a lot to lose if SA’s economy stalls and inflation and prices rise.
You can’t do anything about the current crisis so focus on what you can do, analysts advise.