Lesotho : Sixth Review Under the Poverty Reduction and Growth Facility and Request for Waiver of Nonobservance of Performance Criteria

Author/Editor:

International Monetary Fund

Publication Date:

December 3, 2004

Electronic Access:

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Summary:

This paper examines Lesotho’s Sixth Review Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver of Nonobservance of Performance Criteria. Real GDP growth slowed to 3¼ percent in 2003/04 (April-March) owing to the adverse impact of drought on agricultural output and slower-than-envisaged growth in the construction sector. Fiscal performance in 2003/04 was stronger than envisaged in the program, partly reflecting temporary factors. All quantitative performance criteria for December 2003 and indicative targets for March 2004 were met. The IMF staff supports the key macroeconomic objectives of the authorities’ budget for 2004/05.

Series:

Country Report No. 04/387

Subject:

English

Publication Date:

December 3, 2004

ISBN/ISSN:

9781451823813/1934-7685

Stock No:

1LSOEA0062004

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

57

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