Downgrades will increase borrowing costs

South Africa's Finance Ministry says credit ratings downgrades by Moody's and Fitch will increase the country's borrowing costs and constrain its fiscal options. Finance Minister Tito Mboweni says there is now an urgent need for government to implement structural economic reforms to avoid further harm to the country's sovereign rating. Razia Khan, chief economist at Standard and Chartered speaks to Jeremy Maggs on this. Courtesy #DStv403