The 200 billion rand ($10.81 billion) loan guarantee scheme introduced by South Africa to keep small and medium size businesses from folding due to the coronavirus pandemic will help buffer the country's financial stability, ratings agency Moody's said on Monday.
"It has the potential to reduce asset quality deterioration at banks and help maintain financial stability," the ratings firms said in a statement.
($1 = 18.5067 rand)
(Reporting by Mfuneko Toyana; Editing by Alex Richardson)
