Gigaba to try reassure Moody’s during US trip


Minister of Finance Malusi Gigaba will meet with the ratings agency Moody’s, during his upcoming trip to the United States, which will also feature attendance at the International Monetary Fund and World Bank Spring Meetings.

For Gigaba, the message will be quite clear and consistent.

“We will raise with Moody’s, the programme for structural reforms in the economy, in the form of the nine-point plan. The various aspects that we are implementing, related to industrialization, supporting the emergence of black industrialists, the beneficiation programmes supporting agro-processing, the issues of telecommunication and communications,” said Gigaba on Wednesday.

The Finance Minister also explained that infrastructure and government policies would obviously also feature in these talks. The plan – to try assure people of influence that there had been no fundamental change in the path that South Africa had taken, despite the controversial Cabinet Reshuffle that took place last month.

“We will brief them about the programmes we are implementing with regards to supporting your township and rural economies. So, there is a whole range of issues that we are are going to talk to them about,” added Gigaba.