The South African government and state-owned companies will find it harder to borrow money if the country is added to a global watchdog's list of nations with shortcomings in tackling illicit financial flows. | News24_Business
The immediate impact of graylisting is likely to be muted because South Africa's myriad problems mean international banks already place the country in a higher risk category.The Financial Action Task Force, which polices compliance with anti-money laundering and terror-financing measures, will decide whether to include South Africa on its so-called"gray list".
The Financial Action Task Force, which polices compliance with anti-money laundering and terror-financing measures, will decide whether to include South Africa on its so-called"gray list" during meetings scheduled for February 20 to 24. That's after an evaluation carried out in 2019, following an era of endemic graft, found South Africa lacking in all 11 of its effectiveness measures to combat dirty-money flows.
While graylisting may increase the government's foreign-funding costs and weigh on trade flows, it's unlikely to"significantly" affect South Africa's creditworthiness, said S&P Global Ratings analysts Samira Mensah, Zahabia Gupta and Omega Collocott.
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