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Botswana passes first credit rating test

STEADY HAND: S&P researchers said key exchange rate decisions by the Bank of Botswana helped preserve foreign exchange reserves. PIC: MORERI SEJAKGOMO
STEADY HAND: S&P researchers said key exchange rate decisions by the Bank of Botswana helped preserve foreign exchange reserves. PIC: MORERI SEJAKGOMO

Botswana has passed the first of two scheduled credit ratings assessments, with S&P Global affirming the country’s investment-grade rating, the only such status in the region.

The assessment by Moody’s, whose researchers visited the country two weeks ago, is expected soon.

In its assessment released shortly before midnight on Friday, S&P affirmed the country’s long term foreign and local currency credit rating at BBB-, whilst maintaining the negative outlook based on continued weakness in the global diamond industry and the related impact on the economy.

Editor's Comment
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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