AfriForum today sent a letter to President Cyril Ramaphosa, Finance Minister Tito Mboweni and Minister of Health Zweli Mkhize warning the civil rights organization that the implementation of national health insurance (NHI) could eventually lead to the downgrading of the country’s credit rating to junk status . This comes after the credit rating agency Moody’s..
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Junk Status looms – Implementation of NHI will have disastrous consequences for SA economy
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What could happen to the rand if Moody’s downgrades South Africa to sub-investment grade
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South Africa is preparing itself for the possibility that Moody’s may downgrade the country’s sovereign credit rating to sub-investment grade. Moody’s is currently the only major ratings agency that has South Africa at investment grade – one notch above junk – with a stable outlook. The country has been rated below investment grade since 2017..
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