Botswana for years was hailed as an economic success story, but the collapse in demand for the country's diamonds has hit revenues hard and raised questions about an ambitious spending scheme. Botswana produces 22 percent of the world's diamonds, making it the top producer and accounting for half of government revenue. The country prides itself as a model of a successful African democracy. But in 2009, Botswana halved output and suspended much of its diamond activities as the global economic...
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