Last week’s poor global data is indicative of a worldwide economic rough patch. Talk of another massive financial bailout for Eskom has put South Africa on thin ice with Moody’s. The country is said to be fighting a losing battle to keep its last remaining investment grade credit rating.
Foreigners have already begun dumping R2 billion worth of government bonds. This comes before what looks like an imminent downgrade to junk status, which is placing a huge amount of pressure on the local currency.
Last week’s poor global data is indicative of a worldwide economic rough patch.
Talk of another massive financial bailout for Eskom has put South Africa on thin ice with Moody’s. The country is said to be fighting a losing battle to keep its last remaining investment grade credit rating.
Foreigners have already begun dumping R2 billion worth of government bonds. This comes before what looks like an imminent downgrade to junk status, whic
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