Creator
African governments are issuing and listing their Eurobonds on established international debt markets – usually London and Irish Stock Exchanges
Rating agencies have been at the centre of major financial crises
The initiative will plunge the country into a deeper financial crisis if it isn’t adjusted one way or another.
KPMG South Africa sets a potential example of how shareholders can attack the soft underbelly of private sector state capture enablers.
The idea that South Africa must look towards the International Monetary Fund to rescue itself from the prevailing crisis must be dismissed.
Reversing the effects of state decay on the poor will take short and long term interventions.
The country stands to slip deeper into crisis unless the lust for loot is stopped. The economy is already in deep trouble.
The populism politics adopted by the ANC mask a strategy to deflect attention from the party’s policy failures and to hide its many scandals.
The effects of a sovereign credit rating downgrade would be painful for all South Africans.
South Africa has never reached an embedded democratic state and global patterns suggest it has a higher chance of falling back into an autocracy.
