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Business Report writes that the Federation of Unions of SA (Fedusa) general secretary, Dennis George, is confident that the risk of a downgrade to SA’s credit rating is highly unlikely amid the strong focus by government, labour and business to grow the economy.
But he cautioned on Wednesday that political shenanigans were a stumbling block. George shared his optimism following an hour-long meeting with global ratings agency, Fitch Ratings, saying the process was not based on emotions. “I do not think that we will be downgraded. We gave them (Fitch) all the evidence we have to demonstrate the efforts by all stakeholders to grow the economy,” said George. Labour federation Cosatu said yesterday that no meeting was planned between it and Fitch. The National Council of Trade Unions (Nactu) said the federation had not met Fitch, but was looking to arrange meetings with it and other ratings agencies.
- Read this report by Dineo Faku in full at Business Report
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