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MOODY'S LIFTS RATINGS OUTLOOK TO POSITIVE
Info-Prod Research (Middle East), August, 2007
Moody's Investors Service has raised theoutlook on Botswana's foreign currency ratings to positive from stable onthe continued strengthening of the country's external position andfinancial assets. The positive outlook affects all of Botswana's debt and deposit countryceilings -- both foreign and local currency -- as well as the A2 foreigncurrency issuer rating of the government.
The government's A1 localcurrency bond rating continues to carry a stable outlook. "The current account surplus widened yet again last year to nearly 20% ofGDP," said Moody's Vice President Kristin Lindow. "This was echoed by thegovernment budget surplus, which grew from 8.4% of GDP in 2005/06 to11.8% of GDP in 2006/07 thanks to rising minerals income and spendingrestraint." The analyst pointed out...
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