Botswana has retained its investment-grade sovereign credit rating after S&P Global Ratings affirmed the country’s long-term local and foreign currency ratings at BBB- and its short-term ratings at A-3.
The Bank of Botswana said the outlook remains negative, meaning the ratings agency continues to see risks to the country’s fiscal and external position even though the current rating stays within investment grade.
Botswana’s economy has faced pressure from weakness in the global diamond market, which has affected exports, government revenue and foreign-exchange buffers.
The latest decision leaves policymakers facing continued pressure to strengthen public finances and diversify the economy while protecting the country’s long-standing credit strengths.
Source: Bank of Botswana. The current Botswana Guardian edition also lists the country’s credit and financial outlook among its active business coverage, but its full article text was not publicly accessible for this run.
