IMF
IMF

The International Monetary Fund (IMF) on Monday advised Botswana to hand over the reins of growth to the private sector in the interest of economic diversification.

IMF Mission chief to Botswana Papa N’Diaye made the remarks in an interview after paying a courtesy call to Botswana’s president, Mokgweetsi Masisi, in the capital Gaborone, stressing the move should be implemented gradually with a stronger fiscal policy.

N’Diaye said that IMF was encouraged by government’s efforts to improve the business environment.

“It is quite encouraging to learn that government is reducing some constraints to private sector activity in terms of regulation and providing access to electricity and infrastructure,” he said.

IMF has advised that Botswana should continue maintaining economic prudence that the country is well known for.

N’Diaye said it is ideal for Botswana to continue with macroeconomic prudence that involves containing recurrent spending while maintaining spending on social safety nets and physical capital.

He also hailed Botswana’s efforts in diversifying the economy by investing in high skilled labor.

In his discussions with Masisi, he shared views on Botswana’s transition to a high income country, which can be achieved through continuation of prudent macroeconomic policy, good governance and strong institutions, which Botswana is well known for. Enditem

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