South Africa should avoid rating cuts in Nov – Kganyago

A narrowing current account deficit, improving economy and stable inflation should help South Africa avoid credit rating cuts in November, central bank governor Lesetja Kganyago said in an interview, playing down concerns over the most recent cabinet reshuffle. Growth in Africa's most industrialised economy has slowed to a near standstill in recent years, hit by corruption and a lack of progress on sorely needed reforms.