Despite strong economic track record, Botswana has been advised to move away from diamond based economy to a diversified economy that will sustain private enterprises and generate further jobs.
International Monetary Fund's IMF Country Report No. 06/66, released yesterday states: 'Notwithstanding Botswana's strong track record of macroeconomic performance, the plateauing of diamond production and spread of HIV/AIDS are undermining past achievements.'
'One of the key challenges facing Botswana is to facilitate the transition away from diamonds—which account for over one-third of GDP, 75 percent of exports, and 45 percent of government revenue—to a diversified economy that harnesses private sector initiative and makes more rapid progress in employment creation and poverty reduction while preserving macroeconomic stability.'
Click to download IMF Country Report No. 06/66.
International Monetary Fund, USA
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