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International Monetary Fund

capacity of 600,000 meters a month, which it will be eligible to use under the AGOA preference system. 28. The situation is more worrying in the knitted garments segment of the industry, which employs about 60 percent of the garments industry workforce. Some industrialists have stated that they would leave Lesotho if the advantages under AGOA 1 were lost, while others have discussed plans to manufacture knitted fabrics if the need should arise. A knitted fabric mill is smaller than a woven fabric mill, and the time span required for an investment is shorter. The

International Monetary Fund
The Selected Issues paper provides an overview of trends, performance export growth, value added, and employment, account of the structure and evolution of Lesotho's textiles during the decade through 2002, and discusses future prospects and key issues. It analyzes the implications of the phasing-out of the African Growth and Opportunity Act and also reviews the HIV/AIDS situation in Lesotho. It discusses the current situation, the measures to enhance financial intermediation, and the Southern African Customs Union Arrangement and its effects on revenues. The paper also includes the summary of tax systems, July 2003, and the exchange trade system.