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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
Commitment by DPP to fight corruption welcome

Whilst many citizens put trust in their leaders that they are tackling one of the worst curses that can befall a country, the public has lost trust after all the cases seemed not to go anywhere.As the saying goes, ‘corruption is a cancer that eats away at the fabric of society’; corruption affects effective governance.Corruption affects delivery of services to the public and also crumbles most systems meant to assist citizens who are very...

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