Standard Bank’s CEO says SA’s potential financial greylisting would cause the rand to weaken, and inflation and interest rates to spike
Standard Bank CEO Sim Tshabalala says SA’s potential greylisting by the Financial Action Task Force , an intergovernmental body that assesses countries’ ability to combat illicit financial activity, would be worse than a sovereign credit downgrade.
“The consequences of being greylisted are worse than downgrading,” Tshabalala told The Clement Manyathela Show on Radio 702 on Thursday...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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