Botswana Seeks $3.4bn COVID Aid from IMF and World Bank

By John Jeffay / July 05, 2020 / www.idexonline.com / Article Link

(IDEX Online) - Botswana, the world's top diamond-producing country by value, is to seek financial help from the International Monetary Fund (IMF) and the World Bank to deal with the consequences of COVID-19.The country is in economic crisis, even though the virus has claimed just one life, on 31 March, and as of today there are just 277 active cases.At least 181 confirmed cases have been transferred out of Botswana since they are of foreign nationals.Botswana depends heavily on its diamond wealth, boasting two of the world's biggest diamond mines  -  Jwaneng and Orapa - and hosting the De Beers Sights in its capital Gabarone.It has become one of Africa's richest countries but is suffering badly as global demand slumps because of COVID-19.The country's ministry of finance and economic development, together with the Bank of Botswana say it will need $3.4bn over the next 30 months to revive the ailing economy and cover expected budget deficits."In a conversation with the Bank of Botswana and treasury, I indicated that we should approach and speak to the IMF and World Bank," said finance and economic development minister Thapelo Matsheka said on Wednesday.

Recent News

Many new players enter TSXV gold Top 25 by market cap

July 14, 2025 / www.canadianminingreport.com

Gold stocks mixed on moderate metal gain, flat equities

July 14, 2025 / www.canadianminingreport.com

Gold stocks lead the large cap miners by far over H1/25

July 07, 2025 / www.canadianminingreport.com

Gold stocks up as the metal price and equities gain

July 07, 2025 / www.canadianminingreport.com

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok