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CAPE TOWN, June 10 (Xinhua) -- The ruling African NationalCongress (ANC) on Saturday voiced concern over a decison byinternational rating agency Moody's to downgrade South Africa'scredit rating.


The ANC called on government, the private sector and organizedlabor to use this latest downgrade as a catalyst for greaterurgency in working to alter the country's economic trajectory andboost confidence in the economy.


"In particular Cheap Caleb Benenoch Jersey , we call on the social partners to work togetherto expand private sector investment in the local economy, continueto maintain the stable labor relations environment, remain focusedon government's program of fiscal consolidation and strengthengovernance in the state-owned companies and state institutions ingeneral," the party said in a statement emailed to Xinhua.


Moody's downgraded South Africa's credit rating on Friday to onelevel above junk status with a negative outlook.


The agency lowered the country by one notch from Baa2 fromBaa3.


Amongst the reasons cited for the decision is the perceivedweakening of SA's institutions Cheap Ali Marpet Jersey , sluggish economic growth, slowimplementation of structural reforms and policy uncertainty.


Moody's is the only major rating agency to keep South Africa'sinvestment grade status. Standard & Poor's and Fitch downgradedSA's credit rating to junk status in April following the cabinetreshuffle by President Jacob Zuma.


The ANC said it remains committed to transparency andinclusivity in the process of assessing and, if necessary,reviewing policy towards the organization's 4th National PolicyConference and 54th National Conference scheduled for June andDecember 2017 respectively.


"We have confidence that where any uncertainty or ambiguitiesstill remain in terms of the ANC's policy framework Cheap Donovan Smith Jersey , these will besettled decisively by these important gatherings of our people,"the ANC said.