Cape Town – Moody’s, which did not publish a ratings review of South Africa on Friday as was widely anticipated, on Wednesday listed seven recent key events as it warned of a gradual erosion of the nation’s institutional strength.
“Recent events, particularly but not exclusively the abrupt March Cabinet reshuffle as well as attempts by the Public Protector to alter SARB's mandate, illustrate a gradual erosion of institutional strength,” it said in a regular update on the country.
“Over time, the institutional framework has become less transparent, effective and predictable, and policymakers’ commitment to previously articulated reform objectives is less certain.”
