Moodys News

#Budget2019: Mboweni's speech straddles demands and risk

Simon Harvey, a foreign exchange analyst at Monex Europe, said the impact on government debt limited by increasing tax revenues made the outcome from Moody’s less certain than initially thought.

IOL , South Africa Feb 21, 2019

Moody’s bleak budget reaction sparks junk status fears for South Africa

Credit ratings agency Moody’s have released their reaction to the budget speech which took place on Wednesday, and it does not bode well for Mzansi.

The South African , South Africa Feb 21, 2019

Government borrowing balloons to R335.3bn

Mogajane is holding an aloe that Mboweni said was an iconic plant, ‘resilient, sturdy and drought resistant’, adding that the country must take the bitter with the sweet to return to ‘plum times’.

IOL , South Africa Feb 20, 2019

Rand on the backfoot after lukewarm budget

JOHANNESBURG - The rand traded slightly weaker on Thursday, a day after the Finance Minister announced a partial bailout for ailing power utility Eskom in an annual budget reflecting sluggish growth while deficits and debt widened.

EWN , South Africa Feb 20, 2019

Treasury has just set a very dangerous precedent

Finance minister Tito Mboweni has delivered his 2019 budget speech, showing that South Africa has run out of room to manoeuvre – forcing the government to make tough decisions.

Business Tech , South Africa Feb 20, 2019

#Budget2019: Eskom a drain as SA economic, budget outlook worsens

CAPE TOWN – South Africa's Finance Minister, Tito Mboweni, painted a fairly gloomy outlook for the economy on Wednesday, predicting slower growth after a technical recession last year and singling out state firms such as power utility Eskom as ser...

IOL , South Africa Feb 20, 2019

S.Africa announces $1.6-bn bailout to keep lights on

South Africa's Finance Minister Tito Mboweni announced Wednesday a $1.6 billion-a-year bailout for the country's electricity utility in a bid to stave off further downgrades to Pretoria's credit rating as he unveiled a new budget.

The East African , Kenya Feb 20, 2019

South Africa pledges $5 bln Eskom bailout as budget creaks

Ramaphosa, who is fighting rifts within his own party ahead of the parliamentary election, has made reforming Eskom one of his top priorities as its 420 billion rand debt pile poses a direct threat to Africa’s most developed economy.

Reuters , Africa Feb 20, 2019

South Africa announces $1.6bn bailout to keep lights on | The Guardian Nigeria News - Nigeria and World News

“We must prune and pluck away at the rot until there is growth,” said Mboweni, brandishing a South African bitter aloe plant in the parliament chamber in Cape Town to illustrate his point.

The Guardian , Nigeria Feb 20, 2019

Eskom rescue package focus for South Africa's budget

CAPE TOWN (Reuters) - A rescue package for Eskom, South Africa’s most important state firm, is expected to dominate Finance Minister Tito Mboweni’s budget speech on Wednesday, with the struggling power utility at risk of collapse without a large b...

Reuters , Africa Feb 20, 2019