Moses D Pelaelo: Fostering diversification to escape the middle-income trap

Welcome remarks by Mr Moses D Pelaelo, Governor of the Bank of Botswana, at the workshop on "Fostering diversification to escape the middle-income trap", Kasane, 6 February 2020.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Protocol

Distinguished Guests, it is an honour and privilege to welcome you to Botswana; this time to Kasane, a tourist town located in a pristine natural environment that includes the Chobe National Park, with abundant flora and fauna and the confluence of two of the greatest rivers in the region, if not Africa, the Chobe and Zambezi rivers. It also happens to be located virtually at the point where four countries meet, Botswana, Namibia, Zambia and Zimbabwe, while Angola is not very far off. In addition, barely a 100 kilometres away is the majestic Victoria Falls. Thus, the geography and natural environment are just what is needed, and fitting for our agenda in the next two days, being proximate to, and illuminating, the economic potential for Botswana and the region, not least the attraction of tourists and employment potential, but also enhanced regional trade. 

Honoured Guests, I wish to recognise the efforts of our partners in arranging this closed workshop on Fostering Diversification to Escape the Middle-Income Trap for Botswana. Notable, in this regard, is the role of the International Monetary Fund, represented today by the Deputy Managing Director, Mr Tao Zhang and his colleagues (particularly, the Article IV Consultation Mission Chief for 3 Botswana, Mr Papa N'Diaye). In this regard, the identification and securing of facilitators and speakers and related logistical arrangements is an immense contribution to the successful conduct of this workshop.