The effects of a sovereign credit rating downgrade would be painful for all South Africans.
The upcoming credit ratings reviews are likely to not only have an impact on government, but also on ordinary South Africans.
South Africa has made some progress in fixing problems identified by ratings agencies. But there are a number of outstanding issues that might mean the country is given 'junk' status.
South Africa has narrowly escaped a downgrade of the rating of its sovereign bonds, but government has its work cut out as it seeks to restore investor confidence and lift economic growth.
South Africa's finance minister means well, especially in his bid to cut public sector expenditure. But his success requires strong leadership and strategic alignment across the entire public sector.