Rand Meltdown Brings S. Africa Recession, Junk Rating Closer

Updated on
  • Central bank may be forced to take aggressive rate action
  • Threat of credit-rating downgrade looms as growth slows

South Africa Rand Plunges as Much as 9 Percent

South Africa is moving closer to a recession and possible credit-rating downgrade to junk after the rand collapsed and as investors lose faith in the ability of President Jacob Zuma’s government to stem the slide.

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