Earlier this year, in its World Economic Outlook, the IMF had projected 3.6 percent growth for Botswana in 2024. Government at the time of the February budget speech projected a 4.2 percent expansion, but the Bank of Botswana recently said this would likely be missed due to the underperformance of the key mining sector.
In a statement following the institution’s annual review with local fiscal and monetary policy authorities, Luc Eyraud, division chief in the IMF African Department, said the slowdown in diamonds would weigh down the economy this year.
