S&P downgrades Botswana as diamond sector faces global headwinds




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JOHANNESBURG – S&P Global Ratings on Friday cut Botswana’s long-term foreign and local currency sovereign credit ratings to “BBB-” from “BBB,” citing structural weakness in the global diamond market that will weigh on the country’s minerals-dependent economy for longer than expected. The ratings agency also lowered the country’s short-term foreign and local currency sovereign credit […]
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