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Kingdom of Lesotho: Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility, Request for Waiver of Nonobservance of Performance Criterion, and Request for Modification of Performance Criteria

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  • International Monetary Fund

Abstract

Lesotho’s economic growth has weakened compared with the earlier forecast, owing to adverse exogenous shocks. In 2011/12, despite weather-related shocks (floods), robust growth was maintained. To address these shocks, the authorities have sought external assistance. Lesotho continued to face the challenges in rebuilding its international reserve cushion. The authorities continued commitment to implement reforms in improving the business climate to support private sector-led growth and economic diversification. The authorities have also requested a waiver for the missed cumulative quantitative performance.

Suggested Citation

  • International Monetary Fund, 2012. "Kingdom of Lesotho: Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility, Request for Waiver of Nonobservance of Performance Criterion, and Request for Modification of Per," IMF Staff Country Reports 2012/322, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2012/322
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    1. repec:dau:papers:123456789/14195 is not listed on IDEAS
    2. Lydia Ndirangu & Esman Morekwa Nyamongo, 2015. "Financial Innovations and Their Implications for Monetary Policy in Kenya," Journal of African Economies, Centre for the Study of African Economies, vol. 24(suppl_1), pages 46-71.
    3. Denis Cogneau & Kenneth Houngbedji & Sandrine Mesplé-Somps, 2013. "The fall of the elephant. Two decades of poverty increase in Côte d’Ivoire (1988 - 2008)," Post-Print hal-01517394, HAL.
    4. Leandro Medina, 2018. "Assessing Fiscal Risks in Bangladesh," Asian Development Review, MIT Press, vol. 35(1), pages 196-222, March.
    5. Denis Cogneau & Kenneth Houngbedji & Sandrine Mesplé-Somps, 2013. "The fall of the elephant. Two decades of poverty increase in Côte d’Ivoire (1988 - 2008)," Post-Print hal-01517394, HAL.
    6. International Monetary Fund, 2013. "Morocco: Selected Issues," IMF Staff Country Reports 2013/110, International Monetary Fund.

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