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Thread: If e-tolls fail, South Africas economy will be in a much worse position

  1. #31

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    Everything that comes out of Woosy Moaner's mouth is crappy fake news (the kind that's not even halfway believable).

  2. #32

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    Tolling the same road one travelled for years saves them money, how He has started to believe his own lies

  3. #33

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    Quote Originally Posted by Swa View Post
    Technically it was sanctions that put it in junk status and the lifting of sanctions that took it out of junk status. The ANC started off with a strong base that has just kept on weakening.
    It improved way after the lifting of the sanctions as it was still junk status under Mandela in 1998.

    Under both Mbeki and Motlanthe, the credit rating improved.


  4. #34

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    Quote Originally Posted by Swa View Post
    Some misconceptions going around. There isn't an issue about not paying back the loan. It's government guaranteed so will be paid back one way or another.

    The issue is with how it will and the revenue going to an Austrian company. If it collapses the only economic backlash would be a message to companies to not do "business" in shady ways.
    It depends if their bonds have cross default clauses, in which case, if they miss one payment (interest or principal) on one single bond, all their bonds become due payable immediately. That would bankrupt SANRAL.

    I suspect they do have it, at least for bonds to foreign investors.

  5. #35

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    Quote Originally Posted by f2wohf View Post
    It improved way after the lifting of the sanctions as it was still junk status under Mandela in 1998.

    Under both Mbeki and Motlanthe, the credit rating improved.
    It's not something that happens instantly. Also it may have been optimism over a new government. That optimism quickly dissipated after Mbeki.

  6. #36

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    Quote Originally Posted by Swa View Post
    It's not something that happens instantly. Also it may have been optimism over a new government. That optimism quickly dissipated after Mbeki.
    Obviously, but we are discussing when the credit ratings moved, not because or thanks to who.

    Anyway, it was a digression.

  7. #37

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    Quote Originally Posted by Nerfherder View Post
    I have been saying this all along... they committed to paying this money and so when the public reject the toll the money is still owed.
    Bingo.

    All that's gonna happen is the taxpayer foots the bill. Now with a mountain of interest and bonus inefficiencies.

    The correct route would have been to chuck it on the fuel levy back when this mess started. Ironically it's going to hit all the other provinces that complained how unfair that would be even harder...
    Quote Originally Posted by Rouxenator View Post
    I microwaved the socks for a bit and they are fine now.

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