S&P critical of tensions in SA

RATINGS agency Standard and Poor’s (S&P) has warned that the country’s political tension will make economic reforms more challenging. Its sub-Saharan Africa managing director Konrad Reuss said yesterday: “In the current climate of political tension and turmoil it is certainly more challenging now to achieve all the reforms than one would have thought six months ago.” S&P affirmed South Africa’s credit rating at one level above junk with a negative outlook in June, and said the government should take decisive steps to bolster growth, quell policy uncertainty and end political interference in institutions to avoid a future downgrade.