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SA junk status a big Zimbabwe problem

by Staff reporter
03 Dec 2020 at 07:02hrs | Views
Zimbabwe's quest to revive its economy will be hobbled by South Africa's plunge into junk status.

According to experts who spoke to the paper, the development will likely see Zimbabwe carrying higher borrowing costs, among other things.

Victor Bhoroma an economist said that downgrades tend to weaken the rand, which makes importing goods from SA cheaper when using the US$ and this is bad news for the country as it weakens its reindustrialization and import substitution agenda.

Source - FinGaz
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