The IMF projects that Botswana’s economic growth will slow to 3.8% this year, down from 5.8% last year and nearly 12% in 2021, mainly due to a decline in diamond production. However, growth is expected to rebound in 2024 and 2025 due to higher diamond prices and quantities. Botswana recently renegotiated its deal with De Beers, securing a larger share of locally produced diamonds.