South Africa crawling out of junk status

South African may be able to regain an investment-grade credit rating within two years, Finance Minister Enoch Godongwana said.
The nation obtained a full house of junk ratings in 2020, when Moody’s Ratings downgraded its debt assessment, leaving it without an investment-grade assessment for the first time in 25 years.
The Moody’s decision added to cuts by Fitch Ratings and S&P Global Ratings in 2017.
The government is focused on implementing structural reforms to lift South Africa’s potential economic growth rate, Godongwana said in an interview with Reuters at the World Economic Forum in Davos.
Economic growth in South Africa has averaged less than 1% in the past decade and is predicted at 1.7% this year and 2% next, according to a median estimate of 20 economists in a Bloomberg survey
Factors expected to boost growth include lower interest rates, planned infrastructure upgrades and the ongoing improved performance of the country’s power, transport and logistics sectors.