After Fitch Ratings downgraded the country’s debt ratings to junk status last Friday, the Global financial service company J.P. Morgan, announced that South Africa will be excluded from its investment -grade emerging market bond indexes in late April.
This announcement was made hours after South Africa was downgraded to junk status for the second time in a week.
Standard & Poor’s another Ratings agency downgraded the country to junk status before this. Moody’s is also reviewing the country’s credit status. This will shake investor confidence even more.
Joining us in studio is Dr Azar Jammine, chief economist at Econometrix.
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