Gordon Institute of Business Science - GIBS Business School, Melville Road, Illovo, Johannesburg, South Africa Having narrowly missed a Moody's downgrade, the Rand has rebounded, and local equity markets took a collective sigh of relief.
The country has retained its last investment grade credit rating, but only for now.
Moody's recent shift to a negative outlook for the sovereign rating places the economy on a knife-edge. The ramifications are being felt broadly across the country, with confidence indicators hitting all-time lows. The timeline is tight. Will South Africa slip over the precipice, be downgraded to j