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South Africa will not be able to dodge a credit rating downgrade from Moody’s this year, because the changes it has promised to make are difficult, and it’s not even displaying a concerted effort to achieve them, Alexander Forbes chief economist Isaah Mhlanga said on Thursday. The country’s largest pension fund administrator, which held an investment and economic outlook roundtable on Thursday morning, has always adopted an optimistic view of South Africa’s prospects. CEO Dawie de Villiers often argues that with few positive tweaks, the local economy can take off. But Mhlanga adopted a more cautious stance this week, saying that Moody’s – the only one of the big three rating agencies that still has South Africa on an investment grade – will likely downgrade the country this year.