In a study published last week, the Fitch credit rating agency has warned the ANC government, which is still reluctant to consider public sector salary demands for the next three-year term, over it’s inability to exercise control over spending, which could lead to further budget problems.
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Fitch Rating Agency Warns ANC Regime over Uncontrolled Spending and Unproductive Public Sector Salaries!
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State-owned Landbank becomes the first State Owned Enterprise to be downgraded to junk by Moody’s
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The Land Bank has become the first big state-owned company in SA to be relegated to junk status by Moody’s rating agency. The New York-based agency, which is the last remaining among the big three to rate SA as investment grade economy, said given government’s fiscal challenges, it expected less financial support for the Land..
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Junk status winks for Mangaung Metro with liabilities exceeding assets; officials receive generous salaries and cellphone stipends, while levels of service delivery are non-existent
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The ANC-controlled Mangaung Metro faces junk status after Moody’s rating agency said further downgrading would be considered if the municipality do not urgently get its household in order. The Bloemfontein municipality is in truth already bankrupt with liabilities exceeding assets of nearly R1bn and with over R6bn of outstanding debt. In fact, Moody’s indicated..
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