The Bank of Botswana reported that Botswana handed over the rotating chairmanship of the International Monetary Fund’s (IMF) Africa Group 1 Constituency to South Africa during the IMF and World Bank Group Annual Meetings in Bangkok, held Oct. 12-18, 2026. Governor Lesego Caster Moseki chaired the constituency meeting and participated in global policy discussions. Botswana, which also held the chairmanship at the 2025 Spring Meetings, will represent the 14-country constituency on the International Monetary and Financial Committee in 2027. The committee advises on the international monetary and financial system and provides strategic direction for the IMF’s work. The release also highlighted the IMF’s forecast that Botswana’s real gross domestic product will grow 4.4% in 2026, following a 0.7% contraction in 2025, before growth moderates to 2.2% in 2027. The projected recovery rests on an anticipated improvement in the diamond market and gradually strengthening activity outside mining. Against risks from commodity prices, geopolitical conflict and financing constraints, the outlook underscores the need to rebuild fiscal buffers, maintain macroeconomic stability and diversify the economy. Moseki met development partners to explore collaboration supporting diversification, while bilateral discussions with IMF departments addressed Botswana’s economic and policy developments and matters specific to the Bank.
Bank of Botswana reports IMF Africa Group 1 chairmanship handover and Botswana’s 2027 IMFC role
The Bank of Botswana reported that Botswana transferred the IMF Africa Group 1 Constituency chairmanship to South Africa at the 2026 Annual Meetings and will represent the group on the International Monetary and Financial Committee in 2027. The release highlighted an IMF forecast of 4.4% growth for Botswana in 2026, followed by 2.2% in 2027. The outlook underscores the need to rebuild fiscal buffers and diversify the economy as the expected recovery depends partly on improving diamond market conditions.