Moody's Blames Poverty On NarRow Economic Base

The sovereign credit ratings that Moody's has assigned to Botswana since 2001 for government debt (A2 for long-term foreign currency debt, Prime-1 (P-1) for short term foreign currency debt, and A1 for domestic currency debt) remain unchanged.

The report follows an earlier press release from Moody's announcing that the foreign currency outlook has been upgraded from "stable" to "positive". The upgrade reflects both the continued strengthening of the country's financial position and improved prospects for economic diversification away from diamond mining.