Lesotho: Third Review Under the Poverty Reduction and Growth Facility Arrangement and Request for Waivers of Performance Criteria
IMF Staff Country Reports, October 4, 2002
Source details
- Canonical URL
- Lesotho: Third Review Under the Poverty Reduction and Growth Facility Arrangement and Request for Waivers of Performance Criteria
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Bibliographic details
- Published: October 4, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451823769.002
Assessment summary
- The paper assesses Lesotho’s Third Review Under the Poverty Reduction and Growth Facility (PRGF) Arrangement and a request for waivers of performance criteria.
- IMF staff supports the authorities’ request for a waiver on the unmet performance criterion.
Famine and humanitarian impact
- The government has declared a state of famine.
- The famine is affecting an estimated 900,000 people.
Performance criterion breach and waiver request
- One quantitative performance criterion for end-March 2002—the ceiling on the government’s domestic financing requirement—was not observed.
- The shortfall was almost entirely because of delays in external payments.
- The authorities have requested a waiver on this performance criterion; IMF staff supports the waiver.
Thematic coverage (as listed)
- Banking
- Central banks
- Commercial banks
- Expenditure
- Financial institutions
- International reserves
- Revenue administration
- Tax collection
Keywords (as listed)
- 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
Lesotho: Third Review Under the Poverty Reduction and Growth Facility Arrangement and Request for Waivers of Performance Criteria