Zuma bashes rating agencies that ‘don’t seem to be well balanced to Brics’

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 President Jacob Zuma answers questions in the National Council of Provinces at Parliament in Cape Town. Picture: Jaco Marais
President Jacob Zuma answers questions in the National Council of Provinces at Parliament in Cape Town. Picture: Jaco Marais

President Jacob Zuma criticised the rating agencies in Parliament yesterday and accused them of inconsistencies in their approach to evaluating economies showing a bias to those in Europe as compared to developing countries.

Zuma said while the government took the agencies and their work “very seriously” because it was one of the mechanisms it used to evaluate its work; there were concerns about how the rating agencies were operating.

He was answering questions in the National Council of Provinces.

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