Effect of the credit rating downgrade on agriculture

At midnight on Thursday the 30th of March 2017 President Jacob Zuma’s announcement of a cabinet reshuffle signaled the final straw for the credit rating agency Standard & Poor’s who downgraded South Africa’s sovereign credit rating to BB+. The one notch reduction in the credit rating means that the country’s bonds are now classified as “junk” or “speculative grade” according to the agency.

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