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Vol 50 No 10

Published 15th May 2009


Botswana

Diamonds lose their shine

Rich people are not buying jewels, so Botswana's budget is in deficit and its people are losing their jobs

The global economic downturn has hit Botswana hard. Decades of diamond-led economic expansion have ground to a halt, as people buy fewer gems (AC Vol 49 No 8). The slump became evident last year and has turned out to be more severe than was then expected by Debswana, the diamond mining company that is owned 50-50 by the government and De Beers.

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