{
  "title": "Botswana: 2010 Article IV Consultation: Staff Report and Supplement; Public Information Notice on the Executive Board Discussion",
  "publication": "IMF Staff Country Reports, September 8, 2010",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/botswana-2010-article-iv-consultation-staff-report-and-supplement-public-information-notice-24192",
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  "summary": "The economy entered the crisis from a position of considerable strength because of past prudent macroeconomic management. Macroeconomic policies are being appropriately redirected away from short-term demand management toward medium-term considerations.",
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    {
      "heading": "Macroeconomic position and policy stance",
      "content": "- The economy entered the crisis from a position of considerable strength because of past prudent macroeconomic management.\n- Macroeconomic policies are being appropriately redirected away from short-term demand management toward medium-term considerations.\n- Fiscal policy was strongly countercyclical during the past two years as the government ramped up spending despite a drop in revenues."
    },
    {
      "heading": "Fiscal framework and public balance-sheet management",
      "content": "- The framework for managing the government’s assets and liabilities needs strengthening to cope with a more challenging fiscal environment.\n- Implication: improved public asset-liability management arrangements are necessary to sustain fiscal resilience as short-term cyclical supports are scaled back."
    },
    {
      "heading": "Structural and development implications",
      "content": "- The authorities agreed that their development model would need to change.\n- Policy focus implied: adapt the development model to structural shifts and the post-crisis fiscal context.\n\n---\n\n Content in this bundle\n\n- cr10280\n  - cr10280 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr10280 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 8, 2010",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781455206582.002",
    "The economy entered the crisis from a position of considerable strength because of past prudent macroeconomic management.",
    "Macroeconomic policies are being appropriately redirected away from short-term demand management toward medium-term considerations.",
    "Fiscal policy was strongly countercyclical during the past two years as the government ramped up spending despite a drop in revenues.",
    "The framework for managing the government’s assets and liabilities needs strengthening to cope with a more challenging fiscal environment.",
    "Implication: improved public asset-liability management arrangements are necessary to sustain fiscal resilience as short-term cyclical supports are scaled back.",
    "The authorities agreed that their development model would need to change.",
    "Policy focus implied: adapt the development model to structural shifts and the post-crisis fiscal context.",
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