Fitch downgraded
Fitch cuts South Africa to BB from BB+.
Fitch said the downgrade is a result of the lack of a clear path towards debt stabilization.
Which country has a clear path towards debt stabilization right now?
They forecast that GDP will contract 3.8% in 2020 then bounce back by 1.7% in 2021.
The rand is down as much as 3% and the parabolic move continues.
