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

Preview Citation

Format: Chicago

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 November 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

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports