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AU blasts Fitch for ‘interference’ in SA politics
The African Peer Review Mechanism (APRM) of the African Union has criticised the global ratings agency, Fitch, for interference in local South African politics following last month’s election.
Fitch had said that some sort of deal between the ANC and the DA would be more beneficial for South Africa and would help President Cyril Ramaphosa’s reform agenda. It also said that a more left-wing coalition could harm South Africa’s credit profile and macro-economic stability.
The APRM took issue with Fitch’s remarks and was quoted as saying: ‘Given the influence that Fitch Ratings command in the global financial markets, the APRM views the comments … as politically motivated and tantamount to political interference in the internal political affairs of an AU member state. This is especially important considering that the commentary has been issued amid ongoing negotiations by political parties to form a coalition government or a government of national unity … As a global financial institution, Fitch Ratings should conduct itself as an independent and nonpolitical institution.’
SOURCE:AU blasts Fitch for ‘interference’ in SA politics – Daily Friend
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