Economic bloodbath on cards after lockdown
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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