Kingdom of Lesotho: 2023 Article IV Consultation-Press Release; and Staff Report

July 20, 2023

Preview Citation

Format: Chicago

Kingdom of Lesotho: 2023 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

The government-driven growth model remains a challenge for sustainable and inclusive growth in Lesotho, displacing resources from the private sector. Growth and inflation are subject to the impact of the war in Ukraine, sluggish regional performance, climate shocks, and longstanding structural issues including governance and corruption vulnerabilities, limited financial access, and fragile public financial management. The recently-elected government is prioritizing fiscal consolidation on the back of windfall transfers from the Southern African Customs Union (SACU) that have helped alleviate pressures on both financing and reserves.

Subject: Debt sustainability analysis, Expenditure, External debt, International organization, Monetary policy, Public debt, Public financial management (PFM)

Keywords: Africa, CBL approval, Debt sustainability analysis, Exports threshold, Global, Government finance, IMF CD, Policy rate change, SACU windfall, Southern Africa

Publication Details

Pages:

86
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/268
Stock No:

1LSOEA2023001
ISBN:

9798400248542
ISSN:

1934-7685

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