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Thursday, 20th June 2019
2:55:13am

Economy

Articles related to economy

SA finds a credit rating, once lost, is hard to regain

Lesetja Kganyago, then the top official at Treasury, was taking a break at Sugarloaf Mountain in Rio de Janeiro between two G-20 meetings in November 2008 when he got the bad news.

Barely three years after South Africa had managed to get its highest-ever investment-grade ratings from two of the three main credit-rating companies, the global…

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South African rand volatility gauge touches near 2-month high

A South African rand volatility gauge touched a near two-month high on Wednesday, as the currency remained under pressure from dire economic data and a fierce debate over the central bank’s mandate.

One-month implied volatility hit 14.65 vols, the highest level since April 10, before easing back to stand at 1-month high of 14.5 vols.

Data out on…

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South Africa's rand tumbles on 5-month low on cabinet anxiety, risk aversion

South Africa’s rand tumbled to a five-month low against the dollar early on Wednesday, extending losses in the previous session as global risk aversion and uncertainty over cabinet appointments hurt sentiment.

At 0648 GMT, the rand traded at 14.8575 per dollar, 0.9% weaker than its New York close on Tuesday. The unit was trading at its weakest…

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Liberia president seeks to clean up central bank

Liberian President George Weah on Wednesday shook up the leadership of the Central Bank of Liberia in a bid to restore confidence in an institution dogged by scandal.

Weah announced on national radio that the CBL's executive governor, Nathaniel Patray, would retire within the next three months and his deputy for economic policy, Mounir Siaplay, had…

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Zimbabwe presses exporters, power utility as economic crisis mounts

Zimbabwe government figures blamed exporters on Monday for exacerbating a dollar shortage and warned the power utility against fuelling inflation as the state grappled with a mounting economic crisis.

The southern African nation is gripped by a severe dollar crunch, a tumbling local currency and mounting inflation, which hit 75.86% in April.

Anger…

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