Lesotho: Staff Report for the 2003 Article IV Consultation, Fifth Review Under the Poverty Reduction and Growth Facility, and Requests for Waiver of Performance Criteria and Extension of Arrangement

February 5, 2004

Preview Citation

Format: Chicago

Lesotho: Staff Report for the 2003 Article IV Consultation, Fifth Review Under the Poverty Reduction and Growth Facility, and Requests for Waiver of Performance Criteria and Extension of Arrangement, (USA: International Monetary Fund, 2004) accessed November 12, 2024

Summary

Lesotho's economy has continued to perform well under the Poverty Reduction and Growth Facility (PRGF) arrangement despite adverse weather conditions and the regional food shortage. Executive Directors welcomed the strategy to achieve higher and sustainable economic growth, reduce poverty, and improve social conditions by creating private sector developments and labor-intensive industries. They appreciated the monetary and fiscal policies, the integration of PRGF objectives with the budget, and the improvement in the tax system. They emphasized the need to accelerate structural reforms and supported the Anti-Corruption Unit.

Subject: Banking, Budget planning and preparation, Expenditure, Fiscal accounting and reporting, Public debt, Public financial management (PFM), Revenue administration

Keywords: Africa, Consumer price inflation, CR, Fiscal accounting and reporting, Government, ISCR, Lesotho, Lesotho's Poverty Reduction Strategy Paper, PRGF arrangement, PRGF loan, PRGF-supported program, Southern Africa

Publication Details

Pages:

81
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/021
Stock No:

1LSOEA0012004
ISBN:

9781451823707
ISSN:

1934-7685

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