Kingdom of Lesotho: First Review Under the Three-Year Extended Credit Facility Arrangement and Requests for Waiver of Nonobservance of Performance Criterion and Modification of Performance Criteria-Staff Report and Press Release.

April 11, 2011

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Kingdom of Lesotho: First Review Under the Three-Year Extended Credit Facility Arrangement and Requests for Waiver of Nonobservance of Performance Criterion and Modification of Performance Criteria-Staff Report and Press Release., (USA: International Monetary Fund, 2011) accessed November 21, 2024

Summary

The authorities reiterated their firm commitment to the policies and objectives outlined in the May 17, 2010 Memorandum of Economic and Financial Policies. They are committed to a reduction in other primary spending by 2 percentage points of GDP. With the medium-term outlook broadly unchanged, the policy discussions focused on the FY2011–12 budget and the authorities’ structural reform agenda. Revenues are projected to fall in 2011–12, reflecting the disappearance of exceptional receipts in 2010–11. On the spending side, the authorities are facing a number of additional commitments—some of which are of a temporary nature.

Subject: Balance of payments statistics, Economic and financial statistics, Expenditure, Government finance statistics, International reserves, Public financial management (PFM), Revenue administration

Keywords: Africa, Balance of payments statistics, CR, Debt service, Financial asset, Global, Government finance statistics, IMF's executive board, ISCR, Program implementation, Resilience to external shocks, SDR, Southern Africa, The ECF-supported program

Publication Details

Pages:

54
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/088
Stock No:

1LSOEA2011001
ISBN:

9781455231072
ISSN:

1934-7685

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