On September 16, 2022, S&P Global Ratings (S&P) released an update of the sovereign credit rating for Botswana. The rating agency maintained the country’s sovereign credit rating for long and short term foreign and local currency sovereign credit at “BBB+/A-2”, and the stable outlook. The stable outlook is on account of S&P’s expectation that the demand for Botswana’s diamond will remain strong against downsides risks presented by the weakening global economic activity.
The S&P Report and the Bank’s Press Release are attached below: