Lesotho: Lesotho—Staff Report for the 2000 Article IV Consultation and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility

June 12, 2001

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Lesotho: Lesotho—Staff Report for the 2000 Article IV Consultation and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility, (USA: International Monetary Fund, 2001) accessed November 22, 2024

Summary

The Lesotho economy is experiencing a downturn of economic growth, high unemployment and poverty, and fiscal and balance-of-payments pressures. The size of the proposed fiscal adjustment is adequate because it focuses on improvement in the external current account balance and the maintenance of gross international reserves. The current monetary arrangement with South Africa has served Lesotho well. The efforts of the central bank to reduce the wide interest rate spreads, encourage financial intermediation, mobilize domestic savings, and reduce capital flight have been commended.

Subject: Banking, Capital spending, Commercial banks, Economic sectors, Expenditure, Fiscal policy, Public sector, Revenue administration

Keywords: Africa, Amortization payment, Authorities' effort, Balance of payments situation, Capital spending, CR, Government operation, ISCR, Lesotho's Interim Poverty Reduction Strategy Paper, Public sector, SDR, Southern Africa, Staff appraisal

Publication Details

Pages:

75
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2001/079
Stock No:

1LSOEA0012001
ISBN:

9781451823677
ISSN:

1934-7685

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