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While the economy undeniably remains in a vulnerable position, the overall economic environment has shown signs of improvement from earlier this year.
The South African economy is facing a crucial period; a period that many feel will see the frailty of government policy and a downgrade to junk status a reality rather than a possibility.
When Standard & Poors gave South Africa a stay of execution in June, they cited three factors that would result in a ratings downgrade in December. First and foremost, their key long-term measure is the country’s growth rate, which would need to show improvement. On this point, growth has picked up somewhat, but not nearly as much as it could have had there been less political uncertainty.
“Pray – for rain and much more!”
The strongest deterrent against FSP compliance missteps is or should be: