Thursday , January 20 2022

UPDATE 1-S & P loves South Africa in junk & # 39; status, with the understanding of anemic growth | Agricultural Commodities


(Addition financially, quote, details)

JOHNESBURG, 23 November (Reuters) – S & P Global Ratings links South Africa's foreign currency and local currency credit ratings are independent on Friday, which accounts for weak economic growth and an upcoming debt is the reason for keeping the country in? junk status.

The South African president Cyril Ramaphosa is said to grow and get foreign investment since the abduction in February.

But he was wounded by threats in the administrative national congress of Africa and severe fiscal conflicts after a year decade of stagnation wounded by policy and corruption scandals.

"Anemia's economic growth in 2018 and significant continuous passengers remains on fiscal perspectives and debt relief from South Africa," said S & P in a statement.

"The new government is, however, a series of economic reforms that require the help of the economy from 2019, despite structural obstacles, chronic skills and high unemployment.

S & P held South Africa's long-term foreign currency rating at & # 39; BB; while the long-term local currency currency remained at & # 39; BB +. The ratings have a "stable" perspective.

The financial ministry says S & P 's assessment part of the country has "a chance to further a concrete introduction of measures that are aimed at increasing the growth of' growth.

S & P has South Africa last year after a sharp pollution in the public finances of # 39; the country under former chairman Jacob Zuma.

Link to ANC plans to change the constitution so S & P on Friday decides that the expected # the rule of law and maintaining contracts largely remains and the investment level in South Africa is not effective in limiting.

It added that it can lower its rating if it has determined a fiscal recovery, or if the right of property or property rights is being criticized.

The ratings can be set up as economic growth or fiscal results are strengthened in a sustainable way.

Report by Alexander Winning
Editing by Andrew Heavens and Daniel Grebler

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