Botswana’s national savings have fallen to record low levels, with the cash strapped country using savings and debt to fund its monthly expenditure, grappling with lower revenues due to the diamond market downturn.
The Bank of Botswana’s statement of financial position for August released on Thursday shows that total foreign reserves were P57.8 billion, down by 9.5 percent from the balance of P65 billion in July, and also lower than the P68 billion in August 2023.
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