20°C / 22°C
  • Wed
  • 30°C
  • 13°C
  • Thu
  • 32°C
  • 13°C
  • Fri
  • 32°C
  • 14°C
  • Sat
  • 30°C
  • 15°C
  • Sun
  • 33°C
  • 16°C
  • Mon
  • 34°C
  • 18°C
  • Wed
  • 23°C
  • 14°C
  • Thu
  • 23°C
  • 15°C
  • Fri
  • 23°C
  • 15°C
  • Sat
  • 22°C
  • 15°C
  • Sun
  • 24°C
  • 13°C
  • Mon
  • 19°C
  • 14°C
  • Wed
  • 32°C
  • 14°C
  • Thu
  • 32°C
  • 15°C
  • Fri
  • 33°C
  • 15°C
  • Sat
  • 34°C
  • 17°C
  • Sun
  • 35°C
  • 18°C
  • Mon
  • 36°C
  • 18°C
  • Wed
  • 32°C
  • 14°C
  • Thu
  • 33°C
  • 15°C
  • Fri
  • 34°C
  • 16°C
  • Sat
  • 33°C
  • 16°C
  • Sun
  • 34°C
  • 16°C
  • Mon
  • 36°C
  • 15°C
  • Wed
  • 25°C
  • 16°C
  • Thu
  • 27°C
  • 18°C
  • Fri
  • 27°C
  • 17°C
  • Sat
  • 26°C
  • 19°C
  • Sun
  • 26°C
  • 19°C
  • Mon
  • 26°C
  • 19°C
  • Wed
  • 22°C
  • 12°C
  • Thu
  • 23°C
  • 14°C
  • Fri
  • 21°C
  • 17°C
  • Sat
  • 21°C
  • 16°C
  • Sun
  • 21°C
  • 17°C
  • Mon
  • 19°C
  • 15°C
  • Wed
  • 32°C
  • 13°C
  • Thu
  • 29°C
  • 17°C
  • Fri
  • 30°C
  • 15°C
  • Sat
  • 26°C
  • 15°C
  • Sun
  • 29°C
  • 14°C
  • Mon
  • 20°C
  • 12°C
  • Wed
  • 25°C
  • 14°C
  • Thu
  • 24°C
  • 16°C
  • Fri
  • 25°C
  • 15°C
  • Sat
  • 21°C
  • 15°C
  • Sun
  • 22°C
  • 14°C
  • Mon
  • 17°C
  • 13°C
  • Wed
  • 32°C
  • 18°C
  • Thu
  • 33°C
  • 16°C
  • Fri
  • 34°C
  • 17°C
  • Sat
  • 35°C
  • 19°C
  • Sun
  • 36°C
  • 21°C
  • Mon
  • 38°C
  • 19°C
  • Wed
  • 33°C
  • 15°C
  • Thu
  • 35°C
  • 16°C
  • Fri
  • 34°C
  • 19°C
  • Sat
  • 34°C
  • 17°C
  • Sun
  • 35°C
  • 17°C
  • Mon
  • 33°C
  • 16°C
  • Wed
  • 28°C
  • 14°C
  • Thu
  • 29°C
  • 12°C
  • Fri
  • 32°C
  • 11°C
  • Sat
  • 34°C
  • 14°C
  • Sun
  • 35°C
  • 15°C
  • Mon
  • 40°C
  • 16°C
  • Wed
  • 25°C
  • 12°C
  • Thu
  • 24°C
  • 16°C
  • Fri
  • 20°C
  • 16°C
  • Sat
  • 23°C
  • 15°C
  • Sun
  • 23°C
  • 15°C
  • Mon
  • 19°C
  • 13°C

Govt addressing SOE debt but financial burden significant, says Ramaphosa

President Cyril Ramaphosa says the ratings agencies need to be taken seriously and tough choices lie ahead if the country is going to emerge from sub-investment grade.

President Cyril Ramaphosa in conversation with Radio 702's Xolani Gwala on 13 December 2018. Picture: Abigail Javier/EWN

JOHANNESBURG - President Cyril Ramaphosa says the ratings agencies need to be taken seriously and tough choices lie ahead if the country is going to emerge from sub-investment grade.

He says that government is working hard to lift the country and problems at state-owned enterprises are being addressed.

[LISTEN] Ramaphosa reflects on his Presidency, horrified by corruption in SOEs

He says that problems at Eskom and the SABC lie at the centre of this.

The president says the country is not alone in being downgraded, but SOE debt is a problem.

“Why are rating agencies important? They're important because once we are downgraded, our debt becomes more expensive.”

He says that government is addressing SOE debt, but the financial burden is significant.

“We are heavily indebted at the moment. Like anyone in any household, when the interest rates go higher you start to feel the pinch.”

Ramaphosa was speaking on a range of issues with Xolani Gwala on 702 and Cape Talk on Thursday night.

(Edited by Shimoney Regter)

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus