BoB counts losses from Russian sanctions

On and on: Analysts believe Russia’s war in Ukraine may last through the year PIC: MARCA
On and on: Analysts believe Russia’s war in Ukraine may last through the year PIC: MARCA

The Bank of Botswana (BoB) expects to lose a total of P22.5 million due to the need to cash out of its Russian investments in the wake of that country’s invasion of Ukraine and the resultant sanctions.

According to the central bank’s 2021 Annual Report released last week, by the end of last year, the BoB held P9.1 million in bonds and P147.6 million in equities in Russia.

However, following sanctions against Moscow by the United States, the European Union and others, as well as the exclusion of that country’s banks from the global financial networks, the BoB had moved to liquidate its position in the Russian holdings.

Editor's Comment
Routine child vaccination imperative

The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...

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