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

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 reported the downgrade comes as a slump in the diamond sector weighs on Botswana's economy.

Botswana is one of the world's major diamond producers, making the sector central to state revenues and economic growth.

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@africaintel