South Africa Analysts Fear A Downgrade To Junk Status, Despite Slight Growth

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Published Nov 21, 2016

South Africa's economic growth is in focus this week as ratings agencies meet with government, business leaders and investors.Analysts are predicting a downgrade to junk status, even as the economy registered a slight growth.The Treasury has revised economic growth prospects downwards this year, from 0.9% to 0.5%. This is the slowest projection since the 2009 global recession. The Agencies Standards and Poor and Moodys are expected to make their announcements by December. South Africa's deputy president Cyril Ramaphosa has held meetings with Fitch and is due to meet with representatives of S&P in the next couple of days. He says the meetings thus far have been robust and frank.