On Oct. 25, 2007, Standard&Poor's Ratings Services affirmed its 'A' long-term and 'A-1' short-term foreign currency and its 'A+' long-term and 'A-1' short-term local currency sovereign credit ratings on the Republic of Botswana. The outlook is stable. The ratings reflect Botswana's increasingly strong financial position, a well-managed and growing minerals-based economy, and political stability, offset by the narrow economic base, and the challenges to growth posed by the country's large development needs and high HIV/AIDS prevalence rate. Estimated at 139% of current account receipts (CARs), Botswana's net external asset position continued to strengthen in 2007, further bolstering the government's capacity to absorb potential shocks. Total government debt remains low, at about 5% of GDP, comprising mainly debt issued
