Downgrade warning for South Africa

[BusinessTech]

Downgrade warning for South Africa

South Africa’s risk of credit rating downgrades remains relatively high as seen by a ramp-up in borrowings, with fractured politics pulling in different directions exacerbating the difficulty government has in overcoming structural constraints, says Investec chief economist Annabel Bishop.

 

[justplain]

Downgrade to what? laughing stock level 85 ?

 

[etienne_marais]

Yeah, did not know we can go down more

 

[ShaunSA]

Junk to super junk?

 

[AstroTurf]

Junk to super junk?

Buried beneath the dump.

 

[Sarg3_ZN]

 

[Pineapple Smurf]

I thought we had already hit rock bottom
How much further down is it possible to still go?
Trump didnt call Africa a shithole for nothing I guess

viva ANC

 

[dualmeister]

 

[Johnatan56]

Yeah, did not know we can go down more

Can still go further down. Junk meant no pension funds or other low risk stuff, going to highly speculative would mean a lot of higher risk stuff is also forbidden from investing and must immediately withdraw their funds.

There's a list of what countries are at what, South Africa hitting highly speculative would have a large knock again, the junk status one was basically priced in already, not sure highly speculative is, will have to see.

 

[Agent_Smith]

I thought we had already hit rock bottom
How much further down is it possible to still go?
Trump didnt call Africa a shithole for nothing I guess

viva ANC

Only in this country do our illustrious leaders hit rock bottom and start digging...

 

[Moosedrool]

Don't worry. If you vote ANC on Monday they'll fix all of this.

 

[Pineapple Smurf]

Can still go further down. Junk meant no pension funds or other low risk stuff, going to highly speculative would mean a lot of higher risk stuff is also forbidden from investing and must immediately withdraw their funds.

There's a list of what countries are at what, South Africa hitting highly speculative would have a large knock again, the junk status one was basically priced in already, not sure highly speculative is, will have to see.

Oh cool, we only half way down the ladder
Not nearly as bad as I thought
Thanx

 

[PaulMurkin]

Don't worry. If you vote ANC on Monday they'll fix all of this.

you can go vote ANC , dumbass...

 

[rvZA]

Thank you, Cyril Ramaphosa! Way to go!

 

[Moosedrool]

you can go vote ANC , dumbass...

Sarcasm - Wikipedia

en.wikipedia.org

 

[Johnatan56]

Oh cool, we only half way down the ladder
Not nearly as bad as I thought
Thanx

That's not the right way of looking at it, those things below first grade junk are along the lines of a country with dictatorships, rampant corruption, war torn, etc.

South Africa should be above junk if it just got its debt and electricity in order, and politicians just stopped making promises that definitely don't work, but that's a pipe dream.

 

[WollieVerstege]

Oh cool, we only half way down the ladder
Not nearly as bad as I thought
Thanx

Problem is, as with real ladders, it is much more difficult going up a ladder than coming down a ladder. It will take decades, at the current pace, for us to exit junk - if ever.

 

[Pineapple Smurf]

Problem is, as with real ladders, it is much more difficult going up a ladder than coming down a ladder. It will take decades, at the current pace, for us to exit junk - if ever.

Tell me about it, I suck at Snakes & Ladders

 

[grok]

Problem is, as with real ladders, it is much more difficult going up a ladder than coming down a ladder. It will take decades, at the current pace, for us to exit junk - if ever.

The 1st step of going up a ladder is wanting to go up a ladder, but our masses ain't even remotely close to there yet - they still believe the only solution is burning, stealing & looting what someone else has created.

 

[xtm]

Fc up economy/businesses nicely by the gonersnnnet. They dont have any regrets whatsoever....