For years, Botswana’s Pula Fund has been hailed as a model of fiscal discipline: a sovereign wealth fund that quietly turned diamond wealth into long-term national security. But in 2025, that discipline is under pressure. Global diamond prices are the weakest they have been for years. Anglo American is spinning...
For years, Botswana’s Pula Fund has been hailed as a model of fiscal discipline: a sovereign wealth fund that quietly turned diamond wealth into long-term national security. But in 2025, that discipline is under pressure. Global diamond prices are the weakest they have been for years. Anglo American is spinning...