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Moody's: Pressure on Sarb a key credit risk

A senior analyst for the ratings agency, also told a conference in Johannesburg that space for the Treasury to implement counter-cyclical fiscal policy to keep deficits in check had been eroded.

Reserve Bank Governor Lesetja Kganyago. Picture: South African Reserve Bank.

JOHANNESBURG - Moody’s on Wednesday warned that the gradual erosion of South Africa’s institutional framework and recent pressure on the central bank to change its price and inflation targeting mandate were key risks to the country’s credit rating.

Zuzana Brixiova, a senior analyst for the ratings agency, also told a conference in Johannesburg that space for the Treasury to implement counter-cyclical fiscal policy to keep deficits in check had been eroded.

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