Botswana

Botswana is highly vulnerable to the current oil crisis, importing all its oil, though its landlocked position means low direct Hormuz exposure. Gasoline prices have risen to $1.28/L, and the country holds only 25 days of reserves, indicating growing pressure on fuel availability. Food security faces moderate risk, with fertilizer costs up 52%, impacting agricultural production. The nation's diamond revenues offer a crucial mitigating factor, providing a buffer against the worst economic shocks. However, with global supply disruptions persisting, Botswana will likely face continued economic strain and fuel price volatility in the short to medium term.