Moody’s has changed its outlook on South Africa’s debt from negative to positive after the African national Congress’ victory in last week’s general elections. The ratings agency argued that the victory paves the way for the government to go ahead with the new National Development Plan, which will address unemployment, poverty and inequality, SouthAfrica.info reports.
“The new mandate is also a licence to continue with our ambitious infrastructure build programme, and ensure the provision of better roads, universities and colleges, hospitals, dams, railway lines and power stations that boost economic and social development,” President Jacob Zuma said. [South Africa ETF Strengthens on Elections Results]
iShares MSCI South Africa ETF
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Max Chen contributed to this article.