ISPAAD PAYMENTS CLOSE NEXT MONTH
Payment of farmers and tractor owners for ploughing and planting under the Integrated Support for Arable Agriculture Development (ISPAAD) programme for 2011/12 cropping will be closed on August 31.
A press release from the agriculture ministry states that farmers and tractor owners who have not yet signed their certificates for ploughing or have not collected their payments are advised to contact their agriculture offices immediately in order to avoid losing on their payments.
It further states that so far, 108 943 farmers have been paid P137 364 052, which represents 99 per cent of the total number of farmers who were assisted under the ISPAAD programme.
BOTSWANA’S CREDIT RATING AFFIRMED
Standard & Poor’s (S & P) have released Botswana’s 2012 sovereign credit rating, retaining the “A-“ and “A-2” for the long-term and short-termratings, respectively.
The ratings apply to both local and foreign currency borrowing. The stable outlook has also been affirmed. S & P have noted that the 2012 ratings are supported by the strong government balance sheet, well managed economy and long record of. However, despite efforts to diversify the country’seconomy, it continues to be vulnerable to shocks.
circumstances of heightened uncertainty surrounding the course of the global economy, the retention of both the ratings and their outlook is an indication of continued confidence in the Botswana authorities to respond to the challenges. The long-term rating could come under pressure again if further fiscal or external weakening diminishes asset buffers. Conversely, the accelerated implementation of structural reforms necessary for broadening private sector development could improve the country’s credit worthiness and a possible ratings upgrade.