CAPE TOWN, April 13 South Africa's new Finance
Minister Malusi Gigaba said on Thursday he would meet with
ratings firm Moody's to convince them the country would stay on
the path of fiscal discipline, in order to avoid a third credit
Gigaba, who replaced the respected Pravin Gordhan in a
cabinet reshuffle that triggered credit downgrades to
subinvestment by S&P Global Ratings and Fitch, told local
investors he would clarify Treasury's policy positions to
Moody's on an upcoming roadshow overseas.
"We will do all we can to avoid another downgrade and one of
the ways to do that is to engage with Moody’s directly, to
demonstrate our willingness to stay the course in terms of
fiscal discipline and fiscal consolidation," Gigaba told the
media after briefing investors at parliament.
(Reporting by Wendell Roelf; Writing by Mfuneko Toyana; Editing
by James Macharia)