S&P: political risks may derail South Africa's economy

By Mfuneko Toyana JOHANNESBURG (Reuters) - Standard & Poor's said on Monday that political upheaval might derail South Africa's economy and that it expected that risk to intensify ahead of local government elections on Aug. 3, although it does not anticipate a recession. The ratings agency also said that economic reforms must be implemented to avoid a downgrade in December, having, on Friday, kept its rating at BBB- with a negative outlook and lowered its economic growth estimate to 0.6 perc