for subscribers

Gordhan hails Team SA for beating junk

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
Minister of Finance Pravin Gordhan (Netwerk24)
Minister of Finance Pravin Gordhan (Netwerk24)

Johannesburg - Finance Minister Pravin Gordhan believes South Africa’s avoidance of “junk” status from rating agencies Moody’s and Fitch, which kept the country in the international investment grade, was a “major collective effort”.

Gordhan told City Press yesterday that Moody’s decision to leave South Africa’s long- and short-term ratings unchanged at Baa2, with a negative outlook, meant South Africa remained “investment grade”.

This, he said, was a “collective achievement by Team South Africa” and meant that the country remained attractive to investors and would not face higher lending rates when borrowing money internationally.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.04
(-0.38)
ZAR/GBP
21.81
(-0.11)
ZAR/EUR
19.90
(-0.12)
ZAR/AUD
12.03
(-0.12)
ZAR/JPY
0.16
(-1.12)
Gold
1860.65
(+0.03)
Silver
22.87
(+0.11)
Platinum
844.51
(+0.50)
Brent Crude
42.23
(-0.12)
Palladium
2207.00
(+0.59)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1368 votes
It depends on how the funds are used.
73% - 8867 votes
No. We should have gotten the loan elsewhere.
16% - 1959 votes
Vote