Botswana credit rating nears 'junk status' after S&P downgrade

Tuesday, March 17, 2026 | 190 Views |

The agency also warned that Botswana’s fiscal position has deteriorated as mineral revenues decline.PIC.SOUTHERNAFRICATIMES.COM

Botswana’s sovereign credit rating has been downgraded by S&P Global Ratings, reflecting mounting pressure on the country’s economy and public finances as weak global demand for diamonds continues to weigh on growth and government revenues.

In a decision announced last week, the ratings agency lowered the country’s long-term foreign and local currency sovereign credit ratings to BBB- from BBB, whilst the short-term rating was cut to A-3 from A-2.

The outlook on the rating was revised to negative, signalling the possibility of further downgrades if fiscal conditions continue to deteriorate.

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