Lesotho: Third Review Under the Poverty Reduction and Growth Facility Arrangement and Request for Waivers of Performance Criteria
October 4, 2002
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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.
Subject: Banking, Central banks, Commercial banks, Expenditure, Financial institutions, International reserves, Revenue administration, Tax collection
Keywords: Africa, Commercial banks, CR, food relief plan, government, government balance sheet, International reserves, ISCR, plan, PRGF arrangement, PRGF loan, priority poverty program, Southern Africa, Tax collection
Pages:
60
Volume:
2002
DOI:
Issue:
218
Series:
Country Report No. 2002/218
Stock No:
1LSOEA0032002
ISBN:
9781451823769
ISSN:
1934-7685
