Gov't reserves break losing streak

The central bank’s latest figures indicate that the GIA in July was at its strongest position since March when it was estimated at P7.2 billion.

While the Bank of Botswana statistical report did not give reasons for the improved GIA performance in July, Finance ministry officials have explained that the account rises and falls in line with government spending requirements throughout the year. Finance Minister Peggy Serame recently told Parliament that the steep drop in the GIA from P10.4 billion at the end of February to P5.4 billion at the end of April was due to recurrent and development funding commitments across the government required at the beginning of the financial year.