News 07:00

BULLETIN 27 October 7 am

Good morning. I am……..

In this bulletin:

# Moody’s views the medium-term budget as positive for South Africa’s credit profile
# The GOOD Party accuses the DA leader of disrespecting the Nobel Peace laureate Navi Pillay
# And rugby: Springbok Women have climbed to a historic ninth position in the World Rugby rankings

# Credit rating agency Moody’s views South Africa’s Medium-Term Budget Policy Statement, tabled by minister of Finance Enoch Godongwana in Parliament last week, as positive for the country’s credit profile. It cited tighter monetary policy and continued fiscal consolidation, despite higher oil prices and weaker nominal gross domestic product, which affected fiscal ratios. Moody’s expects the country’s debt to reach 84.9-percent of GDP by 2028 from 86.8-percent of GDP last year. It highlighted that debt ​affordability remains ⁠weak, with interest absorbing 18.8-percent of general government ​revenue in fiscal 2025.

# The Inter-Ministerial Committee on Migration says its meeting with the organisers of protests targeting Home Affairs offices was cordial and frank, with very critical issues raised. Violent protests erupted in Durban and Johannesburg earlier this month, following widespread misinformation about a Home Affairs directive on how asylum seekers should be processed. In July, the Constitutional Court declared certain provisions of the Refugees Act unconstitutional and invalid. Committee chairperson Mmamoloko Kubayi says the committee reaffirmed that they are not opposed to legal migration:

# The GOOD Party has criticised DA leader Geordin Hill-Lewis over his comments about South Africa’s fifth Nobel Peace Prize laureate, Navi Pillay. In a radio interview last week, Hill-Lewis defended his party’s failure to acknowledge Pillay’s achievements and described her as divisive. GOOD secretary-general Brett Herron says Hill-Lewis’s comments about Pillay are similar to how former apartheid-era leaders treated Nobel laureates Albert Luthuli and Desmond Tutu:

# The Public Servants Association says stronger safety measures are urgently needed to protect Statistics South Africa field workers after an employee was allegedly attacked with a knife in Viljoenskroon in the Free State. The worker narrowly escaped serious injury, while their vehicle was damaged. The PSA’s Lynsie Pelser calls for emergency alert devices, improved safety protocols and trauma support for affected employees:

# US president Donald Trump remains a central factor in the upcoming midterm elections, even though he is not on the ballot. According to a new CBS poll, 41-percent say their vote for Congress is to oppose Trump, while only 26-percent is to support him. For most who are backing Democrats, their motivation is more about stopping Trump and Republican Party policies than advancing the Democrats’ own policies. Meanwhile, neither Democrats nor Republicans are perceived by a majority of voters as having a clear plan, should either win control of Congress.

# Rugby: The Springbok Women have climbed to ninth in the World Rugby rankings, their highest position ever, a year after they first broke into the top ten. South Africa have won eight of their 12 Tests this year, underlining their progress on the international stage. They have one more match to play, against fifth-ranked Ireland, after suffering a 40-27 defeat to the Irish in Cape Town last weekend. England remains top of the rankings, followed by New Zealand, Canada and France.

# And the financial indicators: The dollar trades at 16-rand-63-cents and the euro at 18-rand-58-cents. One British pound costs 22-rand-19-cents, and Bitcoin trades at 79-thousand-820-dollars. Gold sells at four-thousand-and-16-dollars-76-cents a fine ounce, and Brent crude oil is quoted at 114-dollars-85-cents a barrel.

Stay tuned for more news………….