Botswana: 2024 Article IV Consultation-Press Release and Staff Report

IMF Staff Country Reports, September 10, 2024

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Botswana: 2024 Article IV Consultation-Press Release and Staff Report

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• Published: September 10, 2024
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798400288135.002

Macroeconomic outlook and inflation

• Economic growth is expected to slow to 1 percent in 2024 primarily because of a diamond market contraction, before picking up next year.
• Inflation has declined sharply since the peak of mid-2022 and returned to the central bank’s medium-term objective range of 3–6 percent, where it is expected to remain in the medium term.

Fiscal policy and public finances

• Some fiscal relaxation is warranted this year given the fall in mineral revenues.
• The ambitious capital budget should be streamlined to contain the deterioration of the deficit and prioritize projects with the highest value for money.

Monetary policy and financial markets

• The monetary policy stance is appropriate.
• Monetary policy transmission remains limited, requiring further deepening of the interbank, credit, and government bond markets along the transmission chain.

Structural reforms and growth model

• Reducing inequality and unemployment requires a more job-intensive, private sector-led, and export-oriented growth model.
• Priority reforms and investments include:
  • Reform of state-owned enterprises.
  • Improved infrastructure for doing business: internet, energy, and logistics.
  • Trade facilitation measures.
  • A more efficient social protection system.

Publication and metadata (selected)

• Pages: 67
• Volume: 2024
• Issue: 286
• Series: Country Report No. 2024/286
• DOI: https://doi.org/10.5089/9798400288135.002
• ISBN: 9798400288135
• ISSN: 1934-7685
• Subjects: Environment, Financial sector policy and analysis, Financial sector stability, Non-renewable resources, Public debt, Revenue administration
• Keywords: Africa, diamond market contraction, Financial sector stability, Global, IMF team, IMF's article, Non-renewable resources, objective range, OPEC Fund for International Development, project obligations to fund, Southern Africa

Source: Botswana: 2024 Article IV Consultation-Press Release and Staff Report (IMF Staff Country Reports 2024, 286).

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