Macroeconomic Forecast Botswana

Botswana's foreign reserves plunged by 13.8% y-o-y in January. At US$8.7bn, they sat 16.4% below their peak in April 2008 and 5.1% lower than at end-08. As diamond exports, the country's principal foreign exchange earner, and high-end tourism continue to be affected by adverse global economic conditions, we see reserves continuing to fall on an annual basis, ending the year at around US$7.5bn

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