Gov't reserves fall further to P3.4bn

The reserves were P5.6 billion in November and were steadily declining throughout 2020 as the government tapped into them to support the budget after main revenues such as mining, collapsed due to the coronavirus (COVID-19) pandemic.

The latest Bank of Botswana (BoB) statements indicate that the reserves, known as the Government Investment Account (GIA), fell to about P5 billion in September then rose to P6.5 billion in October, before ending the year at P3.4 billion, an all-time low.