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S&P revises Botswana’s outlook to ‘stable’ on strong diamond sector recovery

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Ratings agency S&P on Friday revised its outlook on Botswana to ‘stable’ from ‘negative’, citing its expectation that economic rebound, supported by a strong diamond sector recovery, will lead to a material improvement of fiscal and external performance over the next two years. “We expect Botswana’s diamond export-dependent economy will rebound by 8.5% in real terms in 2021 because the diamond industry is rebounding from 2020’s large pandemic-induced contraction,” S&P said.

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