Kingdom of Lesotho: 2023 Article IV Consultation-Press Release; and Staff Report
Kingdom of Lesotho: 2023 Article IV Consultation-Press Release; and Staff Report
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Volume/Issue:
Volume 2023
Issue 268
Publication date: July 2023
ISBN: 9798400248542
$20.00
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Topics covered in this book
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Money and Monetary Policy , International - Economics , Exports and Imports , Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , exports threshold , CBL approval , IMF CD , SACU windfall , government finance , policy rate change , Debt sustainability analysis , Africa , Global , Southern Africa
Summary
The government-driven growth model remains a challenge for sustainable and inclusive growth in Lesotho, displacing resources from the private sector. Growth and inflation are subject to the impact of the war in Ukraine, sluggish regional performance, climate shocks, and longstanding structural issues including governance and corruption vulnerabilities, limited financial access, and fragile public financial management. The recently-elected government is prioritizing fiscal consolidation on the back of windfall transfers from the Southern African Customs Union (SACU) that have helped alleviate pressures on both financing and reserves.
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