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Fitch Ratings affirms South Africa’s credit ratings, maintains stable outlook amid challenges 

# The National Treasury acknowledges credit ratings Fitch’s decision to keep South Africa’s long-term foreign and local currency debt ratings at BB with a stable outlook. The ratings agency says there are ongoing challenges, such as low economic growth, high debt and inequality, but highlights positives such as a good debt structure, strong institutions and credible monetary policy. The agency also recognises progress in reforms under Operation Vulindlela, improvements in electricity supply and the government’s focus on controlling spending and reducing borrowing.