Kingdom of Lesotho : First Review Under the Three-Year Extended Credit Facility Arrangement and Requests for Waiver of Nonobservance of Performance Criterion and Modification of Performance Criteria-Staff Report and Press Release.

Publication Date: April 11, 2011
Electronic Access: Free Full text (PDF file size is 821KB).
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Summary: The authorities reiterated their firm commitment to the policies and objectives outlined in the May 17, 2010 Memorandum of Economic and Financial Policies. They are committed to a reduction in other primary spending by 2 percentage points of GDP. With the medium-term outlook broadly unchanged, the policy discussions focused on the FY2011–12 budget and the authorities’ structural reform agenda. Revenues are projected to fall in 2011–12, reflecting the disappearance of exceptional receipts in 2010–11. On the spending side, the authorities are facing a number of additional commitments—some of which are of a temporary nature.
Series: Country Report No. 11/88
Subject(s): Bank supervision | Economic indicators | Extended Credit Facility | Fiscal consolidation | Nonbank financial sector | Performance criteria modifications | Poverty reduction strategy | Staff Reports

Publication Date: April 11, 2011
ISBN/ISSN: 9781455231072/1934-7685 Format: Paper
Stock No: 1LSOEA2011001 Pages: 54
US$18.00 (Academic Rate:
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