South Africa Worst Hit As Economy Moves To Junk Status - Foreign Affairs

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South Africa Worst Hit As Economy Moves To Junk Status - Foreign Affairs - Nairaland

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South Africa Worst Hit As Economy Moves To Junk Status by DarkTroll: 8:57am On Mar 23, 2016

All 3 rating agencies have predicted South Africa's finances to hit junk status this year!!!

A global risk consultancy, Control Risk has predicted

that South Africa’s credit rating is likely to be downgraded to "junk" status this year owing to a number of risks the country faces.

South Africa faces a number of problems such as the stagnating economy and high levels of crimes, said George Nicholls, Managing Director of Control Risks in Southern Africa.

He was addressing the media in Johannesburg about the possible risks countries of the world are likely to face this year.

According to Control Risk, the depressed commodity prices will have negative impact on the country.

How will South Africa respond to these risks is important, the consultancy said.

After downgrading by Fitch, Standard & Poor’s and Moody’s late last year, South Africa’s credit rating stands at BBB- and Baa3 (a rating equivalent), respectively.

That means the country is at very real risk of becoming a "junk" country, which has substantial implications for investment.

Standard & Poor’s has warned that any deviation from the South African fiscal policy could lead to a credit downgrade.

Despite many positive indicators from the 2016 budget delivered by Finance Minister Pravin Gordhan last month, Control Risk believes the lack details around specific cost-cutting mechanism and populist pressures against significant restructuring of state-owned enterprises means that the downgrade risk will persist.

One of the thorny issues for South Africa would be the upcoming local government elections to be held between May and August this year which would put pressure on the government to increase salaries for public servants, according to Nicholls.

Nicholls said the government might be forced to make Treasury release more money for the salary increment, a move that might worsen the ailing economy.

He stated that bickering in the ruling African National Congress (ANC) also poses a serious risk to the country’s economy.

Nicholls listed institution corruption, legislative stagnation and regulatory uncertainty as other factors that would increase the likelihood for South Africa to be downgraded.

But he said both South Africa’s democratic institution and centre-left elements within the government and the ANC remain strong enough to resist populist proposals and uphold the Constitution and rule of law.

Nicholls suggested that South Africa, a target of cyber crime, should do more in fighting the scourge.

The South African government needs to train law enforcement agents to investigate and prosecute criminals in cyber crime, he said.

Nicholls, however, told Xinhua that while there are many risks to drive away potential investors, some BRICS countries might continue to trade with South Africa.

BRICS countries like China, India and Russia might see opportunities in South Africa, Nicholls said.

"Some have been there and they know how it is and they can compare with South Africa in terms of cheap commodities," he said.
.

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Re: South Africa Worst Hit As Economy Moves To Junk Status by Nobody: 9:07am On Mar 23, 2016

Hmmmm. The economy of the rival country.

Re: South Africa Worst Hit As Economy Moves To Junk Status by DarkTroll: 9:21am On Mar 23, 2016

Stealthideals24:
Hmmmm. The economy of the rival country.

Tell ya, they jeer at us that we aren't a diversified economy, that we're 90% dependent on oil, but seems we're doing better.

They say they are a first world country and aren't even suppose to be in Africa , but they bear the mark of a 3rd world nation in every possible way.

2 Likes

Re: South Africa Worst Hit As Economy Moves To Junk Status by thesicilian: 9:34am On Mar 23, 2016

Why do Africans rejoice when other Africans suffer?

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Re: South Africa Worst Hit As Economy Moves To Junk Status by Vikkie14: 9:47am On Mar 23, 2016

thesicilian:
Why do Africans rejoice when other Africans suffer?

Because we are dark at heart. Because we believe the Whites should progress while the blacks should retrogress. Because there's no love between africans.

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Re: South Africa Worst Hit As Economy Moves To Junk Status by DarkTroll: 10:14am On Mar 23, 2016

thesicilian:
Why do Africans rejoice when other Africans suffer?

Southies don't see themselves as Africans

Re: South Africa Worst Hit As Economy Moves To Junk Status by sweetilicious(f): 10:32am On Mar 23, 2016

I believe Tb joshua the more. He said this during the 31st night new year eve service.

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Re: South Africa Worst Hit As Economy Moves To Junk Status by MduZA: 1:14pm On Mar 23, 2016

Laughing in Yoruba...hahahaha!

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Re: South Africa Worst Hit As Economy Moves To Junk Status by DarkTroll: 1:18pm On Mar 23, 2016

sweetilicious:
I believe Tb joshua the more. He said this during the 31st night new year eve service.

Are you serious??

I have never really given heed to his political predictions!

Re: South Africa Worst Hit As Economy Moves To Junk Status by IronGalaxy: 2:32pm On Mar 23, 2016

DarkTroll:
Southies don't see themselves as Africans

Is it? What makes you think you can speak for me?

Re: South Africa Worst Hit As Economy Moves To Junk Status by IronGalaxy: 2:35pm On Mar 23, 2016

By the way, the title of the thread is nonsense, there is no such!

Re: South Africa Worst Hit As Economy Moves To Junk Status by IronGalaxy: 2:38pm On Mar 23, 2016

DarkTroll:
Tell ya, they jeer at us that we aren't a diversified economy, that we're 90% dependent on oil, but seems we're doing better.

They say they are a first world country and aren't even suppose to be in Africa , but they bear the mark of a 3rd world nation in every possible way.

poverty is taking it's toll

Re: South Africa Worst Hit As Economy Moves To Junk Status by DarkTroll: 3:50pm On Mar 23, 2016

IronGalaxy:
poverty is taking it's toll

YEAh, you're right, it's starting from the south sweeping all in its wake!!!

IronGalaxy:
Is it? What makes you think you can speak for me?

I wouldn't speak for you, I'm simply reciting the words of your fellow compatriots here in the military thread!!!

Start from there.

Re: South Africa Worst Hit As Economy Moves To Junk Status by vandalZA(m): 5:16pm On Mar 23, 2016

Lolest....... first of the title is misleading. The MOODY is a rating organization/agency which South Africa is a member of and their job is to check the credit ratings together with the health of doing business in a country. So they we asked by the south Africa minister of finance to come rate south Africa and give advice on how to prevent the junk status and for more information South Africa is the only member of the organization in Africa that qualified to be rated and other African countries its another story.

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Re: South Africa Worst Hit As Economy Moves To Junk Status by IronGalaxy: 5:33pm On Mar 23, 2016

DarkTroll:
YEAh, you're right, it's starting from the south sweeping all in its wake!!!

I wouldn't speak for you, I'm simply reciting the words of your fellow compatriots here in the military thread!!!

Start from there.

So people from that thread speak for all South Africans right? I saw 3 Nigerians being arrested for drugs last week, I assume you'all drug dealers then. See your reasoning? All the lack thereof? Anyways , here are the cold hard facts, South Africa is a better country, we simply aren't in the same position as you guys sorry, "junk status" fabrications or not that's just the truth, You will do well to focus on see Nigeria rising and doing well not this thing of always keeping up with the Joneses

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Re: South Africa Worst Hit As Economy Moves To Junk Status by DarkTroll: 6:09pm On Mar 23, 2016

IronGalaxy:
So people from that thread speak for all South Africans right? I saw 3 Nigerians being arrested for drugs last week, I assume you'all drug dealers then. See your reasoning? All the lack thereof? Anyways , here are the cold hard facts, South Africa is a better country, we simply aren't in the same position as you guys sorry, "junk status" fabrications or not that's just the truth, You will do well to focus on see Nigeria rising and doing well not this thing of always keeping up with the Joneses

Wipe your tears, son. This isn't a time for tears and bickerings,

The report is of CNN.

If all Nigerians are drug dealers, it follows that all Southies are wasted junkies

Your bloodlines is of mundanity, my boy.

Every last molecule of you is of servitude!!!

Your country is now the new joke of social gathering.

I would focus on your lost heritage and mirage of a country if I were you.

http://transcripts.cnn.com/TRANSCRIPTS/1602/24/ampr.01.html

Re: South Africa Worst Hit As Economy Moves To Junk Status by tpiah2: 7:16pm On Mar 23, 2016

A target of cyber crime?

I know they just have to bring Nigeria into this somehow.

Anyway, lets wait for the results of the Congo elections and see which way.

Re: South Africa Worst Hit As Economy Moves To Junk Status by IronGalaxy: 9:41pm On Mar 23, 2016

DarkTroll:

Wipe your tears, son. This isn't a time for tears and bickerings,

The report is of CNN.

If all Nigerians are drug dealers, it follows that all Southies are wasted junkies

Your bloodlines is of mundanity, my boy.

Every last molecule of you is of servitude!!!

Your country is now the new joke of social gathering.

I would focus on your lost heritage and mirage of a country if I were you.

http://transcripts.cnn.com/TRANSCRIPTS/1602/24/ampr.01.html

Do you think i'll cry over this nonsense?

The report could be coming Jesus Christ for all i care

Mundanity? Biggest economy that import bananas, and a government that can't fix common potholes with a population that believes beheading people will make them rich. Let's face it Nigerians are mundane

Servitude? Haa! grin

who's running away to far flung Vietnam to cut the hair of the Vietnamese? Who-s drowning in the Mediterranean trying to make it to Spain or Italy? What are you all running away from? Slaves run away from slavery ofcouse, being born in that cave is.a curse

A new joke? You gotta be kidding, Tell me is there a country that has an abundance of oil and yet has a shortage of it? grin

if that's not a joke i don't know what it is, ha ha

Thousands of your countrymen are queueing at our home affairs trying to make it in South Africa, the mirage of a country

If i were you i would focus on fixing the image of that cave which is beyond appalling than point your smelly finger on South Africa

1 Like

Re: South Africa Worst Hit As Economy Moves To Junk Status by Nobody: 9:44pm On Mar 23, 2016

tpiah2:
A target of cyber crime?

I know they just have to bring Nigeria into this somehow.

Anyway, lets wait for the results of the Congo elections and see which way.

you don't ever make sense, I wonder why, yet onila has only nice things to say about you.

1 Like 1 Share

Re: South Africa Worst Hit As Economy Moves To Junk Status by DarkTroll: 10:36pm On Mar 23, 2016

IronGalaxy:

Do you think i'll cry over this nonsense?

The report could be coming Jesus Christ for all i care

Mundanity? Biggest economy that import bananas, and a government that can't fix common potholes with a population that believes beheading people will make them rich. Let's face it Nigerians are mundane

You spent 7 hours typing this junk material?

1st world country that houses 67 prison inmates in one tiny room where they pee and defecate on the floor?
A country where 26% of prison inmates are 15-25 years old ? Lost breed!!!

A first world country who can't build its own power grid? A countries that ranks 2nd dullest on mother Earth?

A country where rape of 4 months old infants is beleived to cure HIV?

You're a progeny of mongoloids and mandrillus baboons. South Africa is savagery redefined!!!

IronGalaxy:

Servitude? Haa! who's running away to far flung Vietnam to cut the hair of the Vietnamese? Who-s drowning in the Mediterranean trying to make it to Spain or Italy? What are you all running away from? Slaves run away from slavery ofcouse, being born in that cave is.a curse

A bondsman calling a free born slave!!! Your fathers never knew freedom and you're still a slave of economic destitution and a material dispossessed Muppet.

Has any black south African ever made away from home? Your inflation is roof-high, unemployment is 1 in 4 south African and you're in your sleazebucket of a country changing "kill the Boers" and Xenophobia?

The only reason you've never left home is because the ANC feeds your unplayable, lazy ass. Since you'll lose that free food stamp once you cross the borders and have to hustle on your own, you remained indoors and become a parasite to your government, community and foreigners.

South Africa is the worse thing to happen to the black race!!! Your inequality index is 67%, the highest in the world

IronGalaxy:

A new joke? You gotta be kidding, Tell me is there a country that has an abundance of oil and yet has a shortage of it? if that's not a joke i don't know what it is, ha ha

Please tell me whose country Europeans built and developed for over 300 years and it took Zulus and Bantus just a decade to run the place into Africa's sleazehole and pigsty?

Tiny Mozambique has to supply you gas, Lesotho has to give you water. Africa's first world country

IronGalaxy:

Thousands of your countrymen are queueing at our home affairs trying to make it in South Africa, the mirage of a country

Do you mean like your president sent his entire cabinet to come prostrate in Abuja for leniency? The day we revoked your visas in retaliatory measure nearly a 100 south Africans were denied entry into Lagos before your president apologised!! I didn't even check those turned back at Abuja, Kano and Enugu.

IronGalaxy:

If i were you i would focus on fixing the image of that cave which is beyond appalling than point your smelly finger on South Africa

South Africa has the most stinking habitat in all of Africa. After Soweto came Khayelitsha!!!

Rats eat human babies alive and faeces flow into living quarters. Women poo-poo in the open.

SOUTH Africa is the byword for rape, HIV/AIDS, Murder, Drugs and Xenophobia in Africa, nay the world.

If I were you, I will ask God why I was fated to sojourn on earth as one of the most backward group of humanity!!!

Re: South Africa Worst Hit As Economy Moves To Junk Status by tpiah2: 10:45pm On Mar 23, 2016

firstEVA:
I should shut up when I have nothing to say

Are you in love with onila?

What does that have to do with me?

And who are you btw?

Re: South Africa Worst Hit As Economy Moves To Junk Status by onila(f): 11:16pm On Mar 23, 2016

firstEVA:
you don't ever make sense, I wonder why, yet onila has only nice things to say about you.

she can be caring, loving
always commenting on pples threads

she has good sides

Re: South Africa Worst Hit As Economy Moves To Junk Status by tpiah2: 11:20pm On Mar 23, 2016

onila:

she can be caring, loving
always commenting on pples threads

she has good sides

Hello, I dont appreciate this crap, thank you.

I do not owe whatever is the name any explanation for whatever he or she is yapping about, if you folks want to gossip, feel free but do not confuse your delusional world with fiction.

Once again, who is that entity and what exactly is he or she blabbing about?

Do you make a habit of being a troll and jumping on people's posts @ whoever that is?

Onila, face your front plz and go check what is happening in Congo, or are you not an international reporter cum spy.

Re: South Africa Worst Hit As Economy Moves To Junk Status by onila(f): 11:24pm On Mar 23, 2016

tpiah2:

Hello, I dont appreciate this crap, thank you.

I do not owe whatever is the name any explanation for whatever he or she is yapping about, if you folks want to gossip, feel free but do not confuse your delusional world with fiction.

Once again, who is that entity and what exactly is he or she blabbing about?

Do you make a habit of being a troll and jumping on people's posts @ whoever that is?

Onila, face your front plz and go check what is happening in Congo, or are you not an international reporter cum spy.

fcck off

1 Like 1 Share

Re: South Africa Worst Hit As Economy Moves To Junk Status by tpiah2: 11:26pm On Mar 23, 2016

onila:

I will fcck off

Thats better.

Face your life and quit engaging in senseless chitchat with envy filled wannabees!

Re: South Africa Worst Hit As Economy Moves To Junk Status by onila(f): 11:37pm On Mar 23, 2016

tpiah2:

Thats better.

Face your life and quit engaging in senseless chitchat with envy filled wannabees!

dumb monkey

Re: South Africa Worst Hit As Economy Moves To Junk Status by Nobody: 11:52pm On Mar 23, 2016

onila:

she can be caring, loving
always commenting on pples threads

she has good sides

onila:

fcck off

Bwahahaha

1 Like 1 Share

Re: South Africa Worst Hit As Economy Moves To Junk Status by Nobody: 1:05am On Mar 24, 2016

My God.
What now brought Congo into this conversation?
Is this woman alright...??
My God....
This weirdness is just too much.

Re: South Africa Worst Hit As Economy Moves To Junk Status by tpiah2: 1:55am On Mar 24, 2016

onila:
I am a dumb monkey

Re: South Africa Worst Hit As Economy Moves To Junk Status by tpiah2: 1:56am On Mar 24, 2016

firstEVA:
:-

Bwahahaha

whatever helps your self esteem!

Now that I've noticed you, it should go up a notch!

Re: South Africa Worst Hit As Economy Moves To Junk Status by tpiah2: 1:57am On Mar 24, 2016

fellis:
My God.
What now brought me into this conversation?
Am I alright...??
My God....
My weirdness is just too much.

dont worry, you will still post on nl.

awon eternal hanger around.

Re: South Africa Worst Hit As Economy Moves To Junk Status by Nobody: 3:38am On Mar 24, 2016

onila:

she can be caring, loving
always commenting on pples threads

she has good sides

No be u dey do eye service? Ntoor, she don show you.

Tpia is a mad woman with occasional flashes of sanity, but most times she is completely a wack job

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