Cover IMF Staff Country Reports
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
Author: International Monetary Fund. African Dept.
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2013: Issue 127
Language:
English
Publication Date:
22 May 2013
DOI:
https://doi.org/10.5089/9781484370544.002
ISBN:
9781484370544
ISSN:
1934-7685
Pages:
48
Keywords:
ISCR; CR; Lesotho economy; ECF arrangement; IMF's Executive Board; fiscal consolidation effort; Jmap bank-fund Matrix; Fiscal stance; Credit; International reserves; Africa; Southern Africa
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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.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund