02202cas a2200301 a 4500 AALejournalIMF021608 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513573045 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. African Dept. Botswana : 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Botswana. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (67 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Botswana entered the COVID-19 crisis with larger buffers than most countries, but significantly less than in the past. The country was contending with structural challenges, persistent negative external shocks and delays in adjustment that had already caused a significant weakening of international reserves coverage and the fiscal position amid high unemployment. The pandemic exacerbated these challenges causing a sharp GDP contraction, among the strongest in SSA and a widening in the current account deficit. Foreign exchange reserves dropped further, though still remaining well above adequate levels. The fiscal deficit widened significantly as the government sought to counter the economic impact of the COVID-19 crisis, and implemented a sizeable public wage increase agreed in 2019. The deficit was financed partially by drawing down on the Government Investment Account. Mode of access: Internet International Agreements imf International Organizations imf Monetary Policy imf Observance imf Botswana imf IMF Staff Country Reports; Country Report ; No. 2021/098 Full text available on IMF http://elibrary.imf.org/view/journals/002/2021/098/002.2021.issue-098-en.xml IMF e-Library