Talk about bad timing…!

Amidst a country visit by Moody’s, the global credit rating agency, ahead of their credit rating review on the country, what can only be described as a political circus has been playing out. The public spat between Finance Minister Gordhan, the SARS head Moyane and the Hawks has been overshadowed by the revelations from the Deputy Finance Minister that he was approached by the Gupta family for the position of Finance Minister. The effect of this political saga is that the institutional integrity of the country is being put in jeopardy, doing the country’s credit rating prospects and foreign investor confidence no favours. The financial market’s reaction played out through the currency, weakening every time bad news comes out.

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