S&P affirms Botswana sovereign credit rating

S&P Global Ratings has affirmed Botswana’s 2019 Sovereign credit ratings of ‘A-‘ and ‘A-2’ for long and short-term bonds denominated in domestic and foreign currency. These ratings also apply to the Bank of Botswana long and short-term foreign and domestic currency denominated securities. The credit ratings are supported by the country’s track record of fiscal prudence and low government debt levels, underpinned by a stable institutional framework.

The stable outlook reflects S&P Global Ratings expectation that the country’s strong external buffers will continue to shield the economy from potential diamond sector volatility, and that expansionary fiscal and accommodative monetary policies will support economic growth.