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International Monetary Fund


The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.

RICHARD LAYARD, JOHN PARKER, Thomas A. Wolf, Gavin Maasdorp, Ataman Aksoy, Vijay Joshi, I.M.D. Little, Deena Khatkhate, Ans Kolk, and David Cassells

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

International Monetary Fund

Botswana’s economy staged an impressive recovery during the past year. The strong economic recovery has helped stabilize financial market conditions. The overall external position has also strengthened. The overriding economic policy challenges are to reduce the size of government sustaining growth, diversify the economy, and improve its quality. The monetary and fiscal policy stance on the global food and fuel price shocks has been commended by Executive Directors. Sustaining growth, broadening its sources, and improving its quality are key policy priorities of the government.