[LISTEN] 'SA's current economic woes down to years of maladministration'

Radio 702 presenter Bruce Whitfield and George Glynos, a managing director at ETM Analytics, discuss rating agency Moody’s warning that the pace of fiscal consolidation has slowed.

JOHANNESBURG - Moody’s warned that the pace of fiscal consolidation in Africa’s most industrialised economy has slowed.

It is the only one of the “big three”rating agencies that still has South Africa’s sovereign rating on investment grade.

Talk Radio 702 presenter Bruce Whitfield speaks to George Glynos, a managing director at ETM Analytics, about rating agency Moody’s warning.

“This is the effect of years and years of maladministration. We’ve had a steady degradation of many of South Africa’s institutions. The good news is that things have turned around. Unfortunately, I think we’re going to deal with it for quite a while,” Glynos says.

For more information listen to the audio above.

Additional reporting by Reuters.

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