South African finance minister Pravin Gordhan is in court next week. Prosecutors accuse him of corupt practices whilst he was head of the national tax authority in 2010.
Credit ratings agency Moody's has reduced South Africa's rating, putting the nation's economy one notch above "junk status." The reasons for the move include political turbulence, rising debt, and weakening institutions.
Opposition members had sought judicial permission for lawmakers to cast secret ballots against the president's leadership. Jacob Zuma's alleged involvement in a series of corruption scandals has fueled widespread anger.
South Africa's demise toward full "junk" status looks almost inevitable after S&P has cut the country's credit rating as the first of three major agencies following the sudden dismissal of the finance minister.
Africa's third-biggest economy contracted in the first quarter of this year, entering recession for the first time in eight years amid weak manufacturing output and slumping trade.
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