🇧🇼 Moody's cuts Botswana rating again as diamond slump weighs on economy

Ratings agency Moody's on Friday downgraded Botswana's domestic- and foreign-currency long-term issuer ratings to Baa2 from Baa1, citing an expected deterioration in the country's public finances. Reuters said the move comes as a slump in the diamond sector weighs on Botswana's economy.

Botswana is one of the world's leading diamond producers, and the sector is central to government revenue and export earnings.

#Botswana

🔸 Source

@africaintel