Lesotho: Third Review Under the Poverty Reduction and Growth Facility Arrangement and Request for Waivers of Performance Criteria

International Monetary Fund

No 2002/218, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper assesses Lesotho’s Third Review Under the Poverty Reduction and Growth Facility (PRGF) Arrangement and Request for Waivers of Performance Criteria. The government has declared a state of famine that is affecting an estimated 900,000 people. One quantitative performance criterion for end-March 2002—the ceiling on the government’s domestic financing requirement—was not observed, almost entirely because of delays in external payments. The authorities have requested, and IMF staff supports, a waiver on this performance criterion.

Keywords: ISCR; CR; government; PRGF arrangement; plan; priority poverty program; PRGF loan; food relief plan; government balance sheet; Commercial banks; Tax collection; International reserves; Africa; Southern Africa (search for similar items in EconPapers)
Pages: 60
Date: 2002-10-04
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