Kingdom of Lesotho: 2015 Article IV Consultation-Press Release; Staff Report

February 3, 2016

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Format: Chicago

Kingdom of Lesotho: 2015 Article IV Consultation-Press Release; Staff Report, (USA: International Monetary Fund, 2016) accessed September 20, 2024

Summary

The 2015 Article IV Consultation discusses key issues related to the economic growth of Lesotho. Although Lesotho achieved solid economic growth with only moderate inflation in the several years, this growth has failed to reduce poverty in the country. Lesotho's major chunk of revenue comes from South African Customs Union to finance large government expenditures, but this revenue will fall sharply in fiscal year 2016/17. Despite having substantial international reserves and fiscal buffers, a major fiscal adjustment over the next two to three years will be needed to maintain macroeconomic stability. The private sector needs to be the engine for job creation to strengthen inclusiveness.

Subject: Budget planning and preparation, Expenditure, Fiscal consolidation, Fiscal policy, Public financial management (PFM), Revenue administration

Keywords: Africa, Banking system, Budget planning and preparation, Bullet, CR, Exchange rate, Executive board assessment, Financial asset, Fiscal consolidation, Fund request, ISCR, Lesotho's allocation, Money market rate, SACU revenue, Southern Africa, Sub-Saharan Africa

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/033
Stock No:

1LSOEA2016001
ISBN:

9781513535586
ISSN:

1934-7685

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