South Africa will remain on a downgrade “knife-edge” in 2017, Standard Bank chief economist Goolam Ballim warns, despite the bank’s view that the country’s growth will recover to 1.4% from only 0.4% last year. Both Fitch Ratings and S&P Global currently have South African on ‘negative watch’, having granted the country a reprieve in 2016. But Ballim says they will be “compelled”, in terms of there respective timetables, to make a decision in 2017 on whether to return the country to ‘stable’, or to downgrade its status ‘speculative’.
Source: www.engineeringnews.co.za
South Africa remains on junk ‘knife-edge’ as ANC succession takes centre stage
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