Kingdom of Lesotho: Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Extension of the Arrangement and Rephasing of Disbursement

May 22, 2013

Preview Citation

Format: Chicago

Kingdom of Lesotho: Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Extension of the Arrangement and Rephasing of Disbursement, (USA: International Monetary Fund, 2013) accessed October 19, 2024

Summary

The Extended Credit Facility (ECF) program extended to Lesotho after a sharp fall in revenues remained broadly on track. Lesotho maintained positive growth supported by expansion of mining and construction. Fiscal consolidation efforts have helped to strengthen international reserves, despite weak diamond prices. Executive Directors welcomed the government’s continued efforts to improve the business climate and promote private sector development. They also suggested the need to maintain fiscal consolidation efforts, while safeguarding priority social and growth-promoting capital spending.

Subject: Banking, Central banks, Credit, Fiscal policy, Fiscal stance, International reserves, Money, Public financial management (PFM), Revenue administration

Keywords: Africa, CR, Credit, ECF arrangement, Fiscal consolidation effort, Fiscal stance, IMF's Executive Board, International reserves, ISCR, Jmap bank-fund Matrix, Lesotho economy, Southern Africa

Publication Details

Pages:

48
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/127
Stock No:

1LSOEA2013001
ISBN:

9781484370544
ISSN:

1934-7685

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