Friday, August 12, 2022
  • Login
Upgrade
The Southern African Times
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
The Southern African Times
No Result
View All Result
Home

Botswana’s economic output back to pre-pandemic level, IMF says

by SAT Reporter
July 28, 2022
in Botswana, in Southern Africa
0
Botswana’s economic output back to pre-pandemic level, IMF says

Mokgweetsi Masisi, Botswana's president, reacts during an interview in Gaborone, Botswana, on Monday, May 14, 2018. Botswana is the worlds biggest diamond producer after Russia, and most of its gems are mined by Debswana, a 50-50 joint venture between the government and De Beers. Photographer: Waldo Swiegers/Bloomberg via Getty Images

0
VIEWS

Botswana is one of the few economies in Sub-Saharan Africa whose output has recovered to its level before the COVID-19 pandemic took hold, the International Monetary fund said on Wednesday.

The information was published following the conclusion of an IMF Executive Board 2022 Article IV Consultation with the Southern African country.

The lender attributed the positive trend in part to the strong demand for diamonds globally. The IMF also cited Botswana’s strong vaccination efforts against COVID-19 and the country’s “prudent macroeconomic management”.

“The recovery is expected to continue through the medium term, but there is significant uncertainty,” the IMF said in its report on Botswana. “Growth will be supported by higher prices and demand for diamonds, increased copper production, prospects for a good harvest, less COVID-19 mobility restrictions, and more international tourist arrivals.”

The IMF pointed out that Botswana’s economy grew by 11.4 percent in 2021. Fiscal and current account deficits both narrowed sharply, and foreign reserves stabilized.

The lender noted however that inflation exceeded the central bank’s medium-term 3–6 percent objective range, while unemployment rose close to record highs.

To combat rising inflation, the Bank of Botswana raised the newly introduced Monetary Policy Rate (MOPR) by a combined 101 basis points in April and June 2022.

“With inflation above the Central Bank’s objective range, providing support to the most vulnerable through the government social programs remains a priority in the near term. In this context, improving the targeting of social programs will reduce leakages. Over the medium term, a sustained reduction in poverty and inequality will require further progress on diversification and digitalisation reforms as well as moving away from inward-looking policies such as import restrictions,” the IMF said.

Previous Post

Pink diamond unearthed in Angola believed to be largest seen in 300 years

Next Post

USTDA and AIF Showcase Women as Investment Champions

SAT Reporter

Related Posts

South Africa’s foreign minister urges unity in tackling global challenges
South Africa

South Africa’s foreign minister urges unity in tackling global challenges

by SAT Reporter
August 10, 2022
More African Central Banks Are Exploring Digital Currencies
South Africa

More African Central Banks Are Exploring Digital Currencies

by SAT Reporter
August 8, 2022
Opposition unites to demand Ramaphosa answers over farm burglary
South Africa

Opposition unites to demand Ramaphosa answers over farm burglary

by SAT Reporter
August 4, 2022
Glencore pays out $4.45bn as profit doubles to record
South Africa

Glencore pays out $4.45bn as profit doubles to record

by SAT Reporter
August 4, 2022
Taiwan’s MFIG buys about 55,000 tonnes corn from South Africa -traders
South Africa

Taiwan’s MFIG buys about 55,000 tonnes corn from South Africa -traders

by SAT Reporter
August 4, 2022
Next Post
USTDA and AIF Showcase Women as Investment Champions

USTDA and AIF Showcase Women as Investment Champions

Premium Content

Kenya launches framework to regulate third party credit information providers

Kenya launches framework to regulate third party credit information providers

September 4, 2021
IMF: Rising food and fuel prices stoke risk of unrest in Africa

IMF: Rising food and fuel prices stoke risk of unrest in Africa

April 29, 2022
Fighting resumes between army, M23 rebels in DR Congo: army spokesperson

Fighting resumes between army, M23 rebels in DR Congo: army spokesperson

June 7, 2022

Browse by Category

  • African Continental Free Trade Area
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • Botswana
  • BOTSWANA
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Education
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Rwanda
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tags

africa African business news Africa New Africa News african footballer African investments african markets African news African start-up banking Business China Classic Climate change Content currency Explore Bali Finance football Investment Life Style Markets Market Stories Namibia news Oilandgas oil and gas Opinion Pandemic Politics Premium Russia South Africa Southern African News sports Stay Home Travel United Kingdom United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe Zimbabwe Harare Manufacturing Africa Employment creationn

WHO WE ARE

The Southern African Times is a regional bloc digital newspaper that covers Southern African and the world news. The paper also gives a nuanced analysis on news and covers a wide range of reporting which include sports, entertainment, foreign affairs, arts and culture.

Facebook Twitter Youtube Instagram Rss

Copyright © 2022 The Southern African Times | Powered by The Southern African Times

Privacy Policy

Terms and Conditions

  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?