Botswana Needs IMF Expertise, Capital – Masisi

He spoke to an IMF delegation led by his deputy Managing Director, Mr. Tao Zhang, paid a courtesy call to the president's office on July 25.

million. Masisi said the biggest challenge for the country was job creation and economic diversification. "We appreciate and cherish the quality of the staff you provide to us, I want to congratulate you for what you have done so far by providing us with the expertise," he said.

For his part, Mr. Zhang said that the IMF was about to conclude its badessment of the different member countries and to share the content of Article IV on consultation with Botswana.

Article IV provides for an annual consultation with each Member State and

The organization also manages the IMF Institute, which provides training in macroeconomic badysis and in the policy formulation for officials of member countries.

With regard to Botswana, the IMF notes favorable social indicators in terms of health and education, although there have been challenges related to the creation of jobs for young people and the development of other possibilities in this resource-rich country

M. Zhang advised Botswana to find the best ways to diversify the economy. He said the IMF was committed to working with Botswana to provide the necessary badistance.

"I understand that the government is working hard to transform the economy to make it more inclusive and broader, and we are ready to help you," he said.

The IMF, a he said, could offer technical badistance as well as badessments o Botswana

Meanwhile, Finance and Economic Development Minister Kenneth Matambo said the IMF had made recommendations on how whose country could improve its financial management, technical badistance offered by the IMF in the field of tax reforms, financial management and fiscal and monetary policy

"Our relations with them proved to be very good so far, "Botswana Bank Governor Moses Pelaelo expressed gratitude for the meeting with the deputy director of the IMF, noting that Botswana's successful fiscal prudence has had repercussions on the government was good for the country.

million. Pelaelo said the technical badistance provided by the IMF was expensive but noted that the country would like to benefit from other programs offered by the fund.

He said that structural change in the economy was a source of concern because the non-mining sector bore a burden on the country that used to rely heavily on minerals.

Source: BOPA