Worst could be yet to come, warns Sarb

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South African debt could be at high risk of further credit rating downgrades that could affect the stability of the economy, the nation’s central bank warned on May 2.

In its latest financial stability review, the South African Reserve Bank (Sarb) said greater political uncertainty and deteriorating economic conditions could create a vicious downward spiral that could put further pressure on South Africa’s sovereign credit rating both in foreign and local currency. The country’s sovereign bonds

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