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Australia is one of a small number of countries that enjoy a AAA rating. Image sourced from

Vital Signs: goodbye AAA Australia?

Ratings agency S&P seems unconvinced of the Australian government's ability to reduce the budget deficit.
Bob Katter, leader of Katter’s Australian Party, said he had provided support ‘with no great enthusiasm’. Dan Peled/AAP

Katter backs Turnbull, as credit agency puts Australia on notice

Crossbencher Bob Katter has given his support on supply and confidence to a Coalition government after a meeting with Prime Minister Malcolm Turnbull in Brisbane.
Deloitte strongly argues the budget has a revenue problem, not just a spending problem – a proposition consistently rejected by Treasurer Scott Morrison. Lukas Coch/AAP

Deloitte projects $129 billion four-year cumulative deficit, proclaims ‘a revenue problem’

The federal budget deficit from now through to 2018-19 is likely to be $129 billion, $21 billion worse than in the December official budget update, according to Deloitte Access Economics.
Much is expected of South African President Jacob Zuma when he delivers his 2016 State of the Nation Address. Reuters/Sumaya Hisham

State of the Nation address: what Zuma needs to tell South Africa

The general loss of faith in the economy is the most important issue President Zuma must address. More radical social and economic transformation, with emphasis on land reform will be most critical.
South African academics are extremely worried about President Jacob Zuma’s axing of the finance minister. Reuters/Stefanie Loos

Academics in South Africa voice their dismay at Zuma’s actions

Academics from several South African universities say that in the current world economy decisions about any country's finance minister cannot be made "lightly or capriciously".
Subprime ratings have come back to haunt Standard and Poor’s, which is now facing civil action from the US government. AAP

US government’s lawsuit against S&P puts ratings agencies back in the spotlight

Five billion dollars is a lot of money — and that is the amount which the US Justice Department claims were losses incurred by US banks and credit unions from investing in CDOs rated by Standard &…

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