South Africa making little progress in economic reform: S&P

A man walks past the Standard & Poor's building in New York's financial district February 5, 2013. REUTERS/Brendan McDermid·Reuters· (Reuters)
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JOHANNESBURG (Reuters) - South Africa's is making little progress in turning around the economy as political wrangling delays the implementation of reforms, raising the risk of a credit downgrade to sub-investment grade, S&P Global Ratings said on Thursday. "If things deteriorate further it becomes difficult to continue believing that government can implement the things they say want to do, that they can turn around the economic situation," said Gardner Rusike, the associate director for S&P global ratings. (Reporting by Mfuneko Toyana, editing by Larry King)

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