Bulletin: South Africa Ratings And Outlook Not Immediately Affected By Political Transition

JOHANNESBURG (S&P Global Ratings) Feb. 15, 2018--On Feb. 14, 2018, South Africa's president, Jacob Zuma, resigned, and today Deputy President Cyril Ramaphosa was formally sworn in as president. This follows the African National Congress' (ANC's) elective conference in December 2017, in which Mr. Ramaphosa was chosen as the new ANC party leader. In our last report, "South Africa Ratings Lowered On Weakening Economic And Fiscal Trajectory; Outlook Stable," published Nov. 24, 2017, on RatingsDirect, we indicated that South Africa was facing many economic challenges. The new leadership could bring confidence and faster implementation of key reforms already undertaken. However, Mr. Ramaphosa and his administration will require time to design and implement measures to improve economic growth and stabilize public finances,

...JOHANNESBURG (S&P Global Ratings) Feb. 15, 2018--On Feb. 14, 2018, South Africa's president, Jacob Zuma, resigned, and today Deputy President Cyril Ramaphosa was formally sworn in as president. This follows the African National Congress' (ANC's) elective conference in December 2017, in which Mr. Ramaphosa was chosen as the new ANC party leader. In our last report, "South Africa Ratings Lowered On Weakening Economic And Fiscal Trajectory; Outlook Stable," published Nov. 24, 2017, on RatingsDirect, we indicated that South Africa was facing many economic challenges. The new leadership could bring confidence and faster implementation of key reforms already undertaken. However, Mr. Ramaphosa and his administration will require time to design and implement measures to improve economic growth and stabilize public finances, given the structural and institutional challenges that South Africa faces. Economic growth remains low, impeding the path to fiscal consolidation. We think the government will...

Bulletin