Economic bloodbath on cards after lockdown

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The decision by Moody’s Investors Service to strip South Africa of its last remaining investment grade rating to what is known as “junk status” could not have come at a worse time.

Even before the first citizen tested positive for Covid-19, the country was already battling a massive debt bill — which stood at R2.788-trillion (56.7% of GDP) in the previous financial year...

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