In April 2017, political tensions in the country arose over the sacking of nine cabinet members including Minister of Finance Pravin Gordhan by the president Jacob Zuma. The finance minister was seen as central to efforts to restore confidence in South Africa. As a result of the tensions, S&P Global cut South Africa's credit rating to junk status on Monday 3 April 2017. Fitch Ratings followed suit on Friday 7 April 2017 and cut the country's credit status to the sub-investment grade of BBB-. The South African rand lost more than 11% in the week following the cabinet reshuffling.