Botswana's Decade Of Rapid GDP Growth Is Over - Moody's

The government's "financial strength" will underpin the country's A2 credit rating, even as growth slows, Kristin Lindow, senior vice president at Moody's sovereign risk team, said in a statement on Friday. Botswana, the world's biggest diamond producer, relies on exports of the gems for about two-thirds of government revenue.

The US and Japan, which are in their deepest recession period, account for the bulk of Botswana's diamonds."The recent collapse in commodity prices as a consequence of the onset of the global recession is likely to have a dampening effect on diamond as well as other resource exploration and development," Lindow says.