April 21, 2017 / 5:06 PM / in 8 months

South Africa attracting capital flows despite credit downgrades - c.bank governor

JOHANNESBURG, April 21 (Reuters) - South Africa is attracting capital flows despite its sovereign credit ratings being downgraded to sub-investment grade by S&P Global ratings and Fitch, central bank governor Lesetja Kganyago said on Friday.

“The prospects are still very fluid, there are lots of moving parts. We have seen that in spite of the decline in our credit ratings, South Africa still managed to attract capital flows into our market,” Kganyago said in a interview with state broadcaster SABC television in Washington.

“It’s not that we did something spectacularly, it’s because globally there has been this increased appetite for emerging markets assets.” (Reporting by Olivia Kumwenda-Mtambo; Editing by Janet Lawrence)

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