Kingdom of Lesotho: 2015 Article IV Consultation-Press Release; Staff Report

International Monetary Fund

No 2016/033, IMF Staff Country Reports from International Monetary Fund

Abstract: The 2015 Article IV Consultation discusses key issues related to the economic growth of Lesotho. Although Lesotho achieved solid economic growth with only moderate inflation in the several years, this growth has failed to reduce poverty in the country. Lesotho's major chunk of revenue comes from South African Customs Union to finance large government expenditures, but this revenue will fall sharply in fiscal year 2016/17. Despite having substantial international reserves and fiscal buffers, a major fiscal adjustment over the next two to three years will be needed to maintain macroeconomic stability. The private sector needs to be the engine for job creation to strengthen inclusiveness.

Keywords: ISCR; CR; SACU revenue; bullet; banking system; exchange rate; executive board assessment; money market rate; financial asset; Lesotho's allocation; fund request; Fiscal consolidation; Budget planning and preparation; Africa; Southern Africa; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 64
Date: 2016-02-03
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=43666 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2016/033

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().