The Inevitable Downgrade for South Africa

South Africa finished 2019 on rough footing with the economy slipping into recession in the second half of the year. A weak economy, falling currency, and high debt levels all continue to plague the South African economy. With the country now on lockdown to contain the COVID-19 novel coronavirus, things are likely to get much worse, even as the country’s central bank actively works to mitigate the economic impact of the shutdown.