In this video by ‘Loving Life’ we see that, after the trade union movement in South Africa said they will shut down the public service should the government tighten up on salaries, calling it ‘war’ that Moody’s is not very impressed. The rating agencies are starting to understand that hollow promises and inaction are the hallmarks of the ANC government.
After the budget speech the rand started to move and has now started to dive against the Dollar. The video gives details of what is behind this and why the rating agencies are taking a dim view.
South Africa Today – South Africa Media