Botswana Leader Still Wants De Beers Control Despite IMF Warning

Botswana President Duma Boko reiterated a plan to take control of De Beers, rebuffing a warning from the International Monetary Fund that the diamond market’s prolonged slump makes it a risky undertaking.

Boko has repeatedly said the government intends to acquire a majority interest in the iconic diamond company, which produces most of its gems in the country. Anglo American Plc wants to offload its 85% stake, yet the IMF has cautioned that the nation’s weak economic outlook and already high dependence on diamonds make such a purchase perilous.