Lesotho: Sixth Review Under the Poverty Reduction and Growth Facility and Request for Waiver of Nonobservance of Performance Criteria
December 3, 2004
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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.
Subject: Banking, Expenditure, Health, HIV and AIDS, Poverty reduction strategy, Public debt, Public financial management (PFM), Revenue administration
Keywords: Africa, consumer price inflation, CR, food shortage situation, government, HIV and AIDS, inflation outlook, ISCR, PRGF loan, Sub-Saharan Africa, vehicle lease contract representative
Pages:
57
Volume:
2004
DOI:
Issue:
387
Series:
Country Report No. 2004/387
Stock No:
1LSOEA0062004
ISBN:
9781451823813
ISSN:
1934-7685
