Credit Crunch Considerations

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Botswana's economy is extremely open to the outside world, but we believe the risks from the current global financial upheaval are manageable. The vast majority of non-energy imports come from South Africa (SA), but as the pula and rand are effectively tied, goods bought there should not become more expensive and may even become cheaper as world food prices soften. The rand's sizeable depreciation will make imported oil more costly, yet