Kingdom of Lesotho: Technical Assistance Report-Government Finance Statistics
IMF Staff Country Reports, October 3, 2018
Source details
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- Kingdom of Lesotho: Technical Assistance Report-Government Finance Statistics
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Bibliographic details
- Published: October 3, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484377406.002
Summary
- The Technical Assistance Report documents the IMF mission’s findings and recommendations regarding compilation of Government Finance Statistics (GFS) in Lesotho.
- The IMF mission reviewed current compilation methods of GFS for the budgetary central government and found significant accuracy, classification, coverage, and comprehensiveness issues that undermine the credibility of fiscal statistics compiled and disseminated.
- The mission identified and discussed with the staff of the Ministry of Finance a number of reasons that may partly explain observed discrepancies in the data.
Major findings
- Accuracy, classification, coverage, and comprehensiveness issues affect GFS for the budgetary central government.
- A large and persistent statistical discrepancy exists in the currently compiled and disseminated GFS.
- The statistical discrepancy averaged to about a third of total revenue in preliminary data for FY2016/17 and FY2017/18.
- The mission reviewed compilation methods and engaged with Ministry of Finance staff to identify reasons for the discrepancy.
Policy recommendations and mission actions
- The report discusses findings and recommendations made by the IMF mission regarding compilation of GFS in Lesotho.
- The mission identified and discussed a number of reasons that may partly explain the statistical discrepancy with Ministry of Finance staff.
- (The report contains the detailed recommendations and technical actions proposed by the mission.)
Context and thematic scope
- Subjects covered include: Budget planning and preparation; Chart of accounts; Economic and financial statistics; Financial statements; Government finance statistics; Public debt; Public financial management (PFM).
- Keywords include: Africa, BCG statement, Budget planning and preparation, capital budget, Chart of accounts, CR, debt liability, financial statement, Financial statements, GFS statement, Government finance statistics, ISCR, noncash transaction, payment, statement of operation, transaction.
Kingdom of Lesotho: Technical Assistance Report-Government Finance Statistics
Content in this bundle
- Country Report