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2017 – Weathering the tough times ahead

12 January 2017 | General

A positive outlook on a tough year for business.

South Africa long-term local currency rating lowered to 'BBB'; Foreign currency ratings affirmed; Outlook still negative

05 December 2016 | General

• South Africa continues to depend on resident and nonresident purchases of randdenominated local currency debt to finance its fiscal and external deficits. Its financing needs have risen beyond our previous expectations, with general government debt set to increase by an average of 4.9% of GDP over 2016-2018, to reach gross debt of 54% of GDP in 2019. The proportion of rand in global foreign exchange turnover has also declined to just below 1% on average over the past three years. • We also believe political events have distracted from growth-enhancing reforms, while low GDP growth continues to affect South Africa’s economic and fiscal performance and overall debt stock. • We are therefore lowering our long-term local currency rating on South Africa to 'BBB'. We are affirming all other ratings. • The negative outlook reflects the potentially adverse consequences of persistently low GDP growth for the public balance sheet.

Beware of excessive pessimism for 2017, says Old Mutual Investment Group

01 December 2016 | General

After narrowly escaping Fitch and Moody’s downgrades last week, South Africa is still on tenterhooks over S&P’s rating decision tomorrow. But investors should beware of excessive pessimism over South Africa’s economy in 2017. In fact, its prospects are actually looking up. This was the view presented at Old Mutual Investment Group’s (OMIG) fourth quarterly media briefing for 2016, which covered what we can expect from markets, the economy and the asset management industry in the year ahead.

The unbeaten enemy returns

30 November 2016 | General

Almost eight years after the worst financial crisis since the Great Depression, there has been a lot of conjecture as to when global economies will start to recover and gain traction.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

View the Results