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Vol 61 No 4

Published 20th February 2020

South Africa

Ramaphosus interruptus

Punctuated by protests, the President gave an eloquent statement but he is leaving the heavy lifting to the finance minister

In the first of two last-chance bids by government to forestall a ratings downgrade on the country's credit rating to junk status, President Cyril Ramaphosa failed to convince the markets in his State of the Nation address on 13 February. The rand weakened to trade at above 15 to the US dollar and the country's bond yields rose to 8.3% on the following day.

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