S&P affirms Botswana

Standard & Poor's said it affirmed its A- long-term and A-2 short-term sovereign credit ratings on the Republic of Botswana. The outlook is stable.

The transfer and convertibility assessment for Botswana remains A+.

S&P said the ratings are supported by Botswana's strong government balance sheet, well-managed minerals-based economy and long record of political stability. The ratings are constrained by the country's narrow economic base, which relies heavily on the diamond sector and is vulnerable to shocks, despite efforts to diversify.

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