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How will SA’s “junk status” affect you?

effects-of-sa-junk-status

“Breaking News: South Africa has been downgraded to Junk Status.” A few months ago, this news blew up on every news channel. Standard and Poor’s (S&P’s) downgraded South Africa’s credit rating to junk status. This devastating downgrade, however, was not an abrupt downfall, but rather a slow slide, mainly as a result of the country’s failure to recover from the 2008 financial crisis.