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Parliament hacked, and Fitch ratings debt warning for South Africa

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. fitch-ratings-debt-warning-for-south-africa.html
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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Parliament gets hacked: Parliament's digital team is investigating a hacking incident involving their YouTube and X accounts. On Saturday, a post falsely claiming the president endorsed a cryptocurrency token was uploaded to their X account, linking to their YouTube channel and using hashtags like Solana and crypto. [ EWN]
The article from BusinessTech discusses two significant issues affecting South Africa. Firstly, the South African Parliament was compromised by a cyberattack, leading to the shutdown of its website and email services. This incident has raised concerns about the security of government digital infrastructure. Secondly, Fitch Ratings has issued a warning regarding South Africa's debt, highlighting the country's increasing debt-to-GDP ratio, which is expected to rise to 73.6% by 2024/25. This escalation in debt levels could potentially lead to a downgrade in South Africa's credit rating, exacerbating economic challenges like slow growth, high unemployment, and persistent load shedding. Fitch also pointed out the government's failure to implement necessary structural reforms, which further complicates the economic outlook.

Read the Full BusinessTech Article at:
[ https://businesstech.co.za/news/5-things/817189/parliament-hacked-and-fitch-ratings-debt-warning-for-south-africa/ ]