The Pula Fund was established under the Bank of Botswana (Central Bank) and it is a long-term fund intended to generate returns and maintain the purchasing power of reserves. The Fund is made up of two accounts, the Government Investment Account (GIA) that belongs to the Government and a FX reserve account that belongs to the Bank. In the past few years, there have been two major withdrawals and there have been signs of erosion of the Fund due to the country’s deteriorating fiscal condition.