Bank of America predicts South Africa could see its credit ratings rise by up to two notches by 2025 if the country achieves higher GDP growth and makes progress in reducing its debt. The bank forecasts a potential upgrade to BB by November 2025 from S&P, and a possible change in Fitch's outlook from stable to positive during the year. Economic improvements driven by reduced power outages and the Government of National Unity are cited as contributing factors.
Bank of America forecasts that South Africa could improve its credit ratings by up to two notches by 2025.has noted that if South Africa shows higher GDP growth in 2025 and makes strides in lowering the debt burden, the country could move up two notches in its credit rating, placing it on the cusp of getting out of junk status.Bank of America.
The bank said that if SA continued to show good GDP growth and investor sentiment rises then this could prompt Fitch to raise the outlook on its credit rating from stable to positive during the course of 2025.Earlier in the week, the minister said that South Africa should regain its investment-grade credit rating by 2027 and could exit junk status.SA is currently rated below the investment grade with a stable outlook by all three major rating agencies.
Minister Godongwana said that government is placing structural reforms at the top of its agenda to push economic growth. "As long as we have not turned around the growth outlook, the rating agencies will still be sceptical about us," the minister said.
CREDIT RATINGS SOUTH AFRICA BANK OF AMERICA ECONOMIC GROWTH DEBT REDUCTION
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Robbie Williams to Headline Calabash South Africa 2025British pop star Robbie Williams will headline Calabash South Africa 2025 on January 22, 2025, at Cape Town's DHL Stadium. The event will also feature local artists like GoodLuck, Matthew Mole, and Lee Cole, promising an unforgettable experience for attendees.
Read more »
Fuel Prices in South Africa to Increase in 2025South African motorists will face higher petrol and diesel prices starting January 1, 2025. The Department of Mineral Resources and Energy (DMRE) attributed the increase to various factors, including global petroleum prices and the exchange rate between the rand and the US dollar.
Read more »
Petrol and Diesel Prices in South Africa to Rise in 2025The global price of petrol increased in December, coupled with a weaker rand against the US dollar, leading to an anticipated rise in petrol and diesel prices for South African motorists in January 2025.
Read more »
South Africa's Public Holidays and Long Weekends in 2025Find out all the public holidays and long weekends in South Africa for 2025. Discover the dates and plan your vacations accordingly.
Read more »
Make Your Own Luck: A Call to Action for South Africa in 2025The author argues that the current government is failing to provide for South Africans and calls on citizens to take charge of their own destinies. He emphasizes the need for entrepreneurship and self-reliance in the face of rising costs and a lack of government support.
Read more »
2024 Political Shifts: Reshaping South Africa and the UK in 2025This article analyzes the major political changes of 2024, focusing on the decline of the ANC in South Africa and the Labour Party's victory in the UK. It explores the implications of these shifts for governance, society, and power dynamics in both countries.
Read more »