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Davies hopes Moody's will cut SA some slack with credit rating

Trade and Industry Minister Rob Davies says that he hopes that Moody's will recognise government's efforts to rebuild the economy.

Minister of Trade and Industry Rob Davies during his visit to the Hisense factory in Atlantis where a R12 million investment in TV manufacturing at the factory was announced. Picture: Cindy Archillies/EWN

CAPE TOWN - Government is on tenterhooks as it awaits a decision from ratings agency Moody's on Friday.

Trade and Industry Minister Rob Davies says that he hopes that Moody's will recognise government's efforts to rebuild the economy.

Davies was speaking at the Cape Town Press Club on Tuesday.

The rand has been volatile against the international currencies as government awaits a decision that could sway the country's financial future.

The minister says that government is doing everything it can to avoid the worst.

"I hope that Moody's will see the improvements that are underway and we will need to have an impact in the medium term and will cut us some slack."

Cash-strapped Eskom is hurting government's chances of averting a downgrade.