Treasury has halted the plan in attempt to stave off another downgrade.
S&P has downgraded SA's currency rating to junk. What does this mean for ordinary consumers?
Moody's has warned that SA and its neighbours will find it hard to borrow money soon.
Analysts believe this could signal another ratings agency downgrade.
Ratings agencies have reacted badly to Gigaba's medium-term budget statement.
Moody's joined Fitch Ratings in slating the controversial charter.
The finance minister says he will tell Moody's the government won't spend what it doesn't have to try to persuade it not to follow Fitch and S&P.
Junk status has everything to do with poor and uneducated people as it will affect them directly, EFF leader Julius Malema has said.
Reports suggest SA could lost R150 billion if another downgrade happens.
The move follows that of S&P Global Ratings one week ago after President Zuma's cabinet reshuffle and subsequent protests.