‘Painful’ downgrades will raise South Africa’s borrowing costs – minister

‘Painful’ downgrades will raise South Africa’s borrowing costs – minister
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JOHANNESBURG — South Africa’s finance ministry said on Saturday credit ratings downgrades by Moody’s and Fitch would increase the country’s borrowing costs and constrain its fiscal options. “The decision by Fitch and Moody’s … is a painful one,” Tito Mboweni, minister of finance, said in a statement. There is an urgent need for government to […]

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Tito Mboweni

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