Perspective for critics preaching that South Africa is falling apart

It’s often too noisy to see what’s really happening – but when we eventually do, it’s always less dramatic than headlines would have us believe. Sometimes it takes the most rational of observers to remind us of this fact.

South Africa is struggling to overcome tough challenges. Then again, so are many other nations. The world is undergoing a seismic shift, what the World Economic Forum has dubbed The Fourth Industrial Revolution. Change is the new normal.

So perspective is provided by Friday’s “no change” announcement from ratings agency S&P, following a similar decision from Moody’s. It shows the herculean effort by Finance Minister Pravin Gordhan and Team South Africa bought the country time.

And proves despite justifiable concerns, the country is a long way from falling apart.

Downgrading of the national credit rating to “Junk” is still on the cards. But it has now been postponed until early 2017. That provides breathing space to craft and start implementing the economic reforms everyone knows must come.

A lot can change in six months. Especially when those with the courage to make the tough calls get the support that makes them possible.

* For more in-depth business news, visit biznews.com or simply sign up for the daily newsletter.