Gaolathe defends tough economic measures, warns of currency collapse without action

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Vice President and Alliance for Progressives (AP) party leader Ndaba Gaolathe has assured Batswana that government decisions are guided by citizens’ welfare, saying no policy is intended to disadvantage the people. Speaking at the AP leadership retreat in Palapye on July 18, Gaolathe warned that failure to act on declining foreign reserves would have dire consequences. ‘We are not saying that mistakes cannot happen, but had we not taken some of the decisions, our currency would have lost its value and our economy would have collapsed,’ he said.

Gaolathe noted projections that by June 2026 reserves could fall to zero if no action was taken. He revealed that current foreign reserves stand at around P50 billion, and the pula remains stable as a result of government interventions. ‘Right now, as we speak, the foreign reserves stand at around P50 billion, and the currency is still holding up,’ he stated.

Addressing criticism over the 14% health tax, Gaolathe said the increase was necessary and would ultimately benefit the country. ‘There is nothing that can make the government forget Batswana. Everything we do, we do to uplift and fix our country so that it does not collapse,’ he added.

The Vice President listed key challenges including medication shortages, health sector underperformance, high prices, and unemployment. He promised the government would tackle them sequentially, citing the National Health Insurance as a measure that would address some health sector problems once implemented.

Article source: allafrica.com | Image credit: DailyNews

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