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Assessing and promoting civil and minority rights in South Africa.

[Source: Bloomberg by Colleen Goko.]

Moody’s Investors Service hasn’t said it, but investors already think it: South Africa’s credit is junk.

The company, which rates South Africa’s debt Baa3, the lowest investment level, is due to review its assessment in November. Given Eskom Holdings SOC Ltd.’s financial woes and its implications for government debt, the market is pricing in a downgrade.

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South Africa at a Glance
58 780 000 (mid 2019 estimate)
3.7% y/y in October 2019 (CPI) & +4.1 y/y in September 2019 (PPI)
3.1% q/q (2nd quarter of 2019)
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