The rand closed at R13.99 (2019: R14.43) and is expected to weaken for the remainder of 2020. Latin America (Latam) experienced a growth slump, with eight out of 20 sovereigns on a negative rating outlook1. Key factors impacting Latam’s sovereign credit trends include persistent fiscal challenges, restricted market risk, rising debt and political and social risk. The graph depicts the GDP and inflation trends of the countries in which our core assets operate, namely South Africa, Argentina, Colombia, Chile, Panama and Peru.
|1||Fitch rating June 2019.|