South Africa: Ruling ANC is losing its grip on power - BBH

Sandeep Kanihama FXStreet Contributor

Research Team at BBH, notes that early results of South African elections show that the ruling ANC is losing its grip on power.

Key Quotes

“The Independent Electoral Commission released early returns showing the ANC trailing in the capital Pretoria, Johannesburg, and Port Elizabeth, confirming the opinion polls. While this would be a long-term positive, we believe that the ANC will try to buy its way out of this situation by opening up the fiscal spigots ahead of the 2019 national elections. That would likely help trigger the ratings downgrades we’ve been warning about.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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