IMF Staff Country Reports

Kingdom of Lesotho: Requests for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of Lesotho

July 30, 2020

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Kingdom of Lesotho: Requests for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of Lesotho, (USA: International Monetary Fund, 2020) accessed December 21, 2024

Summary

The COVID-19 pandemic is having a severe impact on Lesotho’s economy. Supply chains for major industries have been disrupted and a national shutdown to contain the virus curtailed economic activity with adverse social impacts. The economy is expected to be further hit by declining external demand for textiles and diamonds, shrinking remittances, and delays to major construction projects. The authorities are taking measures to contain the virus and are implementing plans to mitigate its health and economic consequences. The economic shock, as well as the additional required spending, have generated urgent balance-of-payments (BOP) needs. Lesotho does not have an arrangement with the Fund.

Subject: COVID-19, Debt sustainability analysis, Expenditure, External debt, Financial sector policy and analysis, Health, Public debt, Revenue administration, Stress testing

Keywords: Africa, Bursary scheme, COVID-19, CR, Debt sustainability analysis, Emergency financing from the IMF, Emergency financing request, Financing, Financing gap, Global, IMF lending tracker, ISCR, Pandemic, Southern Africa, Stress testing, Support

Publication Details

  • Pages:

    47

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2020/228

  • Stock No:

    1LSOEA2020002

  • ISBN:

    9781513551845

  • ISSN:

    1934-7685

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