JOHANNESBURGH – South Africa’s under the spotlight as two ratings agencies prepare to announce their revised assessment of the country’s debt.
Moody’s decision is expected on Friday, while Standard & Poor’s review will be released next week.
S&P’s currently rates the country at the lowest investment level – Moody’s has it one level above.
The outcome is uncertain, but any downgrade could spell disaster for the ailing economy.
At the same time, President Jacob Zuma has admitted the importance of the announcement but says it’s being politicised.
“We are politicising things and create a very big hype. I bet some of you didn’t even know there have been downgrades. We are ready to tell them the truth about our politics in the country and they will make their decision,” President Jacob Zuma.