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ARTICLE: THE POST-MOODY’S NEED FOR NATIONAL UNITY IN AVOIDING A RATINGS DOWNGRADE

moodysThere is an eerie unreality about the debate that has followed Moody’s decision to retain South Africa’s rating at two notches above junk grade status (with a negative outlook).

Moody’s explained its decision on the basis of three principal considerations:

  • South Africa’s economic growth is expected to recover after reaching its trough in 2016 – based on the prospect of closer collaboration between government, business, labour and civil society in restoring confidence in the economy and addressing the constraints to economic growth;
  • following the 2016 budget, it is expected that general government debt to GDP will be stabilised under the direction of the Treasury – which has a reassuring fiscal track record; and
  • Moody’s was impressed by South Africa’s institutional strength compared to its peers – no doubt a reference to the roles played by the Constitutional Court, the Public Protector and civil society in the recent “spy tapes” and Nkandla judgments, and in the Nene affair. 
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Assessment of Compliance of Election Manifestos for the 2024 South African National Elections with the Bill of Rights

The assessment of 17 parties aims to evaluate how well each manifesto aligns with the Constitution’s core values, with a particular emphasis on compliance with the Bill of Rights.