National accounts return to surplus

The balance of payments, or Botswana's net financial position with the rest of the world, has been in deficit since 2008, with trade imports outweighing exports and net international investment earnings waning due to the recession.

The weaker balance of payments position in 2009 and 2010 forced government to dip into foreign currency reserves, while pointing to the eventual weakening of the pula against other currencies. Yesterday, senior BoB officials said following an extended period of deficits, the country's balance of payments had returned to positive for the first quarter of 2011.