Botswana Diamond Production in 2023 is Expected to be Flat on Year
BOTSWANA, Sept.1 – Botswana’s diamond production is forecast to remain flat on year in 2023, the International Monetary Fund said Thursday.
According to Dow Jones, Production is expected at 24.5 million carats this year, the same as the prior, and is projected to rise to 27.8 million carats by 2028, the IMF said in a statement.
In 2025, diamond production is estimated at 25.1 million carats, it said.
Together with a gradual recovery in diamond production and prices, Botswana forex reserves are projected to stabilize at five and a half months of imports over the medium term, it said.
The outlook remains heavily dependent on demand for diamonds and the global economic cycle, the IMF said.
Botswana is Africa’s top diamond producer.
