Lesotho: Recent Economic Developments
January 1, 1994
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This paper reviews economic developments in Lesotho during 1990–94. During the six years (1988/89–1993/94) under the IMF-supported programs, real GDP growth has averaged 6.5 percent, and investment has risen rapidly, owing to activities related to the Lesotho Highlands Water Project and substantial foreign private direct investment. Real gross national product growth averaged only 3.3 percent, owing to a decline in remittances, as a major retrenchment of mine workers in South Africa occurred during this period. The government’s budgetary position improved substantially during the six-year period.
Subject: External debt
Keywords: adjustment program, CR, development budget, ISCR, liquid asset ratio, outlay, real GNP, real value, vis-à-vis South Africa, wage
Pages:
66
Volume:
1994
DOI:
Issue:
002
Series:
Country Report No. 1994/002
Stock No:
1LSOEA0021994
ISBN:
9781451823714
ISSN:
1934-7685
Notes
This report on recent economic developments in Lesotho was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.
