Kingdom of Lesotho: Technical Assistance Report-Government Finance Statistics

October 3, 2018

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Kingdom of Lesotho: Technical Assistance Report-Government Finance Statistics, (USA: International Monetary Fund, 2018) accessed November 20, 2024

Summary

This Technical Assistance Report discusses the findings and recommendations made by the IMF mission regarding compilation of Government Finance Statistics (GFS) in Lesotho. The IMF mission reviewed current compilation methods of GFS for the budgetary central government and found that there were significant accuracy, classification, coverage, and comprehensiveness issues that undermine the credibility of fiscal statistics currently compiled and disseminated. Currently compiled and disseminated GFS include a large and persistent statistical discrepancy. The statistical discrepancy averaged to about a third of total revenue in preliminary data for FY2016/17 and FY2017/18. The mission also identified and discussed with the staff of the Ministry of Finance a number of reasons that may partly explain the discrepancy.

Subject: Budget planning and preparation, Chart of accounts, Economic and financial statistics, Financial statements, Government finance statistics, Public debt, Public financial management (PFM)

Keywords: Africa, BCG statement, Budget planning and preparation, Capital budget, Chart of accounts, CR, Debt liability, Financial statement, Financial statements, GFS statement, Government finance statistics, ISCR, Noncash transaction, Payment, Statement of operation, Transaction

Publication Details

Pages:

29
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/282
Stock No:

1LSOEA2018003
ISBN:

9781484377406
ISSN:

1934-7685

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