Parliament hacked, and Fitch ratings debt warning for South Africa

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Parliament hacked, and Fitch ratings debt warning for South Africa

//business-finance.news-articles.net/content/202 .. fitch-ratings-debt-warning-for-south-africa.html

Published in Business and Finance on Monday, March 17th 2025 at 2:01 GMT by BusinessTech

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/ ]

Publication Contributing Sources

BusinessTech

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Parliament hacked, and Fitch ratings debt warning for South Africa