IMF expects weaker growth due to diamond output drop

An IMF team, led by Luc Eyraud, division chief in the IMF African Department, visited Gaborone between July 4 and 14 and held discussions with various monetary and fiscal authorities.

In a statement made available after the visit, Eyraud said the local economy was expected to grow by 3.8% this year on account of the lower diamond output and weaker global economy. The projection is marginally higher than the 3.7% forecast for Botswana by the IMF in its April World Economic Outlook, but lower than government’s own expectations of four percent growth this year.