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General - April 4, 2017

South Africa’s credit rating downgraded to ‘junk’ status

South Africa President Jacob Zuma dismissed finance minister Pravin Gordhan last week as part of a cabinet reshuffle.

South Africa President Jacob Zuma dismissed finance minister Pravin Gordhan last week as part of a cabinet reshuffle.

The move was followed by South Africa’s credit rating been downgraded to ‘junk’ status by aredit rating agency Standard and Poor’s.

This move is now threatening to split his ruling ANC party.

Al Jazeera’s Fahmida Miller reports from Johannesburg.

The post South Africa’s credit rating downgraded to ‘junk’ status appeared first on African Media Agency.


Source: AMA

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