Kingdom of Lesotho: 2008 Article IV Consultation—Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Kingdom of Lesotho

International Monetary Fund

No 2010/005, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2008 Article IV Consultation discusses that Lesotho has made significant progress in macroeconomic performance, but the pace of implementation of key structural reforms has been slow. After a decade of low growth, economic activity surged above historic trends, averaging 6.6 percent during 2006–07, driven by the mining, textile, and construction sectors. However, poverty has seen only a modest decline. Executive Directors have commended the authorities for their prudent macroeconomic management, which has contributed to the recent strong economic performance and a continued build-up of international reserves.

Keywords: ISCR; CR; SACU revenue; GDP; SACU; debt; Ponzi scheme; CMA membership; debt indicator; liability positions vis-à-vis nonresident; diamond mining sector; Government finance statistics; Exports; Domestic debt; Africa; Global (search for similar items in EconPapers)
Pages: 61
Date: 2010-01-07
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