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S&P maintains Botswana’s credit rating but dims on economy

Watching trends: Finance Minister, Ndaba Gaolathe, faces a baptism of fire in his first fiscal year, handling a diamond-led recession PIC PHATSIMO KAPENG
Watching trends: Finance Minister, Ndaba Gaolathe, faces a baptism of fire in his first fiscal year, handling a diamond-led recession PIC PHATSIMO KAPENG

The interest rates the country pays for its debt will remain steady for now, but attracting investment may become more difficult after a leading agency maintained its credit ratings assessment of the country but lowered its outlook on the country’s economy.

S&P, one of three main credit ratings agencies whose opinions determine government’s cost of borrowing, maintained the country’s high sovereign credit ratings but revised the outlook from stable to negative.

The decision, announced on Friday evening, is the first time S&P has downgraded Botswana’s outlook since September 2020 when the COVID-19 pandemic upended the economy.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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