SA can still thrive under junk status, says Kganyago
Speaking at a lecture on monetary policy at the UKZN's Westville campus, SA Reserve Bank Governor, Lesetja Kganyago has weighed in on the country's downgrade to 'junk status'.
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The governor says it's unclear how long South Africa will remain at junk status, but the Reserve Bank's mandate during this period is to keep inflation down.
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Kganyago says while junk status hinders growth and investment potential, there is still room for intervention.
"South Africa still has breathing space. We have been put on negative output by Moody's and Standard and Poor's with respect to our domestic currency denominated debt and what South Africans need to do is identify concerns of the ratings agencies, deal with those and protect ratings so that it doesn't fall back," he said.