South Africa's economy evaded a potentially damaging blow Friday when the Standard & Poor's rating agency maintained the country's foreign currency debt status one notch above junk status. S&P however kept its negative outlook for South Africa, which has struggled with political friction under President Jacob Zuma, high unemployment and slow growth. "Political events have distracted from growth-enhancing reforms, while low GDP growth continues to affect South Africa's economic and fiscal performance," S&P warned.
