He revealed that Botswana subscribes to the world's foremost credit rating agencies, Moody's Investors Service (Moody's) and Standards and Poor's (S & P). He said government pays US$128,800 (P977,000) in total annual fees to the two agencies."The annual subscriptions paid by Botswana ensure that the country is reviewed on an annual basis to enable us to measure the country's competitiveness and formulate policies that would assist Botswana to attract foreign direct investment," he said.Botswana has consistently been awarded the highest ratings in Africa for its strong financial position and sound macro economic policies.
Information from Bank of Botswana states that Botswana's 2011 sovereign credit rating by both Moody's and Standards and Poor's retained the A2 rating for both foreign and domestic bonds, revising the outlook upwards from negative to stable.Matambo was responding to a question from Palapye Member of Parliament Moisiraele Goya who wanted to know whether countries apply to be assessed by credit rating agencies, and if they pay subscription fees. He further wanted to know the fees countries pay to be assessed.
