Africa > Lesotho, Kingdom of

You are looking at 1 - 10 of 112 items for

  • Type: Journal Issue x
Clear All Modify Search
International Monetary Fund. African Dept.
The 2024 Article IV Consultation discusses that Lesotho’s gross domestic product growth has improved modestly, picking up to 2.2 percent in the fiscal year ending in March 2024. Inflation increased in the second half of 2023, peaking at 8.2 percent in January 2024. However, upward pressures have eased, and inflation has since fallen to 6.5 percent in June. The outlook for Lesotho’s fiscal and external balances has improved significantly owing to windfall transfers from the Southern African Customs Union and renegotiated water royalties. Key recommendations include swiftly establishing a well-governed savings framework (stabilization fund) to ensure that additional revenues are saved wisely and spent strategically, in line with the authorities’ national development goals. To this end, the authorities are encouraged to prioritize high-quality public investment, strengthen internal controls to ensure transparency and accountability, and address governance and corruption vulnerabilities. Accompanying recommendations include: enhancing public financial management, improving the business environment, and increasing financial inclusion.
International Monetary Fund. African Dept.
This Selected Issues paper delves into few applications of machine learning (ML), with a particular application to economic forecasts in Lesotho. Amid delayed and often revised gross domestic product data, this paper explores the potential of ML to provide real-time insights into growth and inflation trends, crucial for informed policymaking. By leveraging nontraditional data and employing a variety of ML models, the paper presents a comprehensive analysis of current economic activity, evaluates the accuracy of standard statistical measures, and forecasts future inflation trends. The findings underscore the efficacy of ML in reducing prediction errors and highlight the significant role of alternative data in circumventing the limitations posed by traditional economic indicators. This paper contributes to the broader debate on the application of advanced computational techniques in economic forecasting, offering valuable insights for policymakers in Lesotho and similar countries grappling with data constraints and the need for timely economic analysis.