South Africa gets $14bn boost by avoiding junk status

By , 1 May 18

Moody’s decision to not downgrade South Africa to junk status has saved the economy about £14bn in outflows from the local bond market, according to an expert from Morningstar.

South Africa’s tax chief suspended

3D rendered concept of the state of the economic and finance markets in South Africa.

On 23 March, after a four month review, South Africa breathed a sigh of relief as Moody’s decided to not downgrade the economy to a junk status.

Experts from Morningstar Investment Management South Africa and Citadel have said the decision has provided a welcome boost to the economy.

Click here to read the full story in the International Adviser April e-zine.

 

 

 

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