Ratings agencies will in all likelihood hold off on a sovereign ratings downgrade, as such a move could justify the removal of Finance Minister Pravin Gordhan. This is the view of Gina Schoeman, South Africa economist of global bank Citi, who said in a company note issued on Monday that ratings agencies would not want to be seen as the “catalyst” of the removal of Gordhan.
Source: www.engineeringnews.co.za
Protecting Gordhan’s job could deter ratings downgrade – economist
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