The COVID-19 pandemic is a global health crisis that has created far-reaching economic consequences. Over the last few weeks, local and global markets, and currencies have touched record lows, with heightened market volatility.
Adding to South Africa’s current economic woes, was the recent announcement by Ratings Agency Moody’s, that it had downgraded the country’s sovereign credit rating to sub-investment grade, from Baa3 to Ba1 (also known as junk status).
This, together with the country-wide lockdown creates multiple challenges for the South African economy.
Amid the market volatility being felt across local and global financial markets, how successful will governments across the world be in curbing the effects of COVID-19? Importantly, what direction can investors take to protect their investments?
Absa Asset Management’s Equity Analyst, Roy Mutooni was recently featured on Newzroom Afrika TV discussing the global moves being carried out to mitigate the effects of the pandemic.
You can access the full interview on our Asset TV channel, using this link: https://www.assettv.co.za/channel/absa-investment-management
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