Kingdom of Lesotho: Request for a Three-Year Arrangement Extended Fund Facility Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; Statement by the Executive Director for the Kingdom of Lesotho

July 21, 2010

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Kingdom of Lesotho: Request for a Three-Year Arrangement Extended Fund Facility Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; Statement by the Executive Director for the Kingdom of Lesotho, (USA: International Monetary Fund, 2010) accessed November 22, 2024

Summary

Lesotho’s fiscal and external balances have deteriorated as a result of the global economic downturn and a surge in spending. Undertaking key fiscal adjustments to restore macroeconomic stability is necessary for raising Lesotho’s growth potential. Executive Directors commend the measures taken in the budget to reduce expenditure. Further strengthening of debt management and accelerating structural reforms is crucial for raising Lesotho’s growth potential. Strengthening the institutional and regulatory framework for banks and non-bank financial institutions (NBFIs) will help to support financial sector health and stability.

Subject: Economic and financial statistics, Expenditure, External debt, Government finance statistics, Public debt, Public financial management (PFM)

Keywords: Adjustment program, Africa, CR, ECF arrangement, Global, Government, Government finance statistics, Government project, IMF quota, ISCR, Real GDP, SACU revenue, Southern Africa

Publication Details

Pages:

87
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/225
Stock No:

1LSOEA2010003
ISBN:

9781455205745
ISSN:

1934-7685

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