March 23, 2018 / 10:28 PM / a month ago

South Africa's Treasury welcomes Moody's rating reprieve

JOHANNESBURG, March 24 (Reuters) - South Africa welcomed Moody’s decision to keep the country’s debt rating at investment grade and revise the outlook to stable from negative, the Treasury said late on Friday.

“To improve South Africa’s investment and economic prospects, the government continues to work diligently on practical steps to provide the necessary policy certainty,” Treasury said in a statement.

“Through the SONA (State of the Nation Address) the President expressed strong commitment and will to fast-track the implementation and finalization of key sectoral structural reforms as well as reforms to State-Owned Companies.” (Reporting by Mfuneko Toyana Editing by James Macharia)

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