South Africa's finance minister said on Thursday that a third wave of the coronavirus could destabilise the government's efforts to control its finances and avoid a further downgrade of the country's sovereign rating. Two of the top three rating agencies - Moody's and Fitch - downgraded South Africa's sovereign rating further into junk in November on concerns of rising debt levels and the government's ability to raise revenues and pay off debt amid the economic shock inflicted by the pandemic.
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