The last week has been a tumultuous one for our country. Especially when all that you read is about South Africa having to downgrade to ‘junk status’ What does this mean?
Don’t panic folks, in this blog I will share with you what junk status means, and importantly how does it affect the ordinary consumer. I am here to educate you and in some small way ensure you make wise money choices.
In a nutshell, junk status refers to :
A scenario when rating agencies downgrade a country’s credit rating, meaning that we as a country will need to pay more if we needed to borrow money.
Why did this happen you might ask? Basically, the rating agencies were not too pleased with the level of political uncertainty in the country and the latest shuffling of Ministers [...]