International Monetary Fund (IMF) Executive Board Concludes 2023 Article IV Consultation with Kingdom of Lesotho

Lesotho’s economy continues to face a number of challenges in the wake of the pandemic

The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with the Kingdom of Lesotho. Lesotho’s economy continues to face a number of challenges in the wake of the pandemic. Climate shocks, delays to infrastructure projects, high food and fuel prices, declining diamond prices, layoffs in the…

IMF Staff Completes Virtual Mission to Lesotho

The authorities and the mission team had productive discussions on policies that could be supported by the IMF under a financial arrangement

Lesotho has been struggling with the fallout from the pandemic and a sharp decline in revenues from the Southern African Customs Union (SACU); The authorities and the mission team made significant progress in their discussions on policies that could be supported by the IMF under a financial arrangement. A team…

Coronavirus - Lesotho: IMF Executive Board Approves US$49.1 million in Emergency Support to Lesotho to Address the Covid-19 Pandemic

The IMF approved US$49.1 million emergency support under the Rapid Credit Facility and the Rapid Financing Instrument to help Lesotho meet urgent balance of payments needs stemming from the COVID-19 pandemic

The economic consequences of the COVID-19 pandemic in Lesotho have been severe, with a weak global and regional environment reducing exports and remittances; The IMF approved US$49.1 million emergency support under the Rapid Credit Facility and the Rapid Financing Instrument to help Lesotho meet urgent balance of payments needs stemming…

International Monetary Fund (IMF) Staff Completes 2020 Article IV Visit to the Kingdom of Lesotho

An International Monetary Fund (IMF) staff team, led by Joseph Thornton, visited Maseru from January 29 – February 11, 2020

In a context of policy uncertainty, the weak regional environment has depressed growth below the levels needed to reduce poverty and unemployment; High government spending should be refocused on areas that can have the biggest impact on delivering vital services, protecting the vulnerable, and supporting private sector growth; Reforms should…

International Monetary Fund (IMF) Staff Concludes Visit to Lesotho

An International Monetary Fund (IMF) team, led by Mr. Joseph Thornton, IMF Mission Chief for Lesotho, visited Maseru during November 6-13, 2019

Lesotho continues to face challenges in adjusting to lower Southern African Customs Union (SACU) revenue; Restraining current spending and effective expenditure controls will be essential to maintain a sustainable fiscal position; Public investment should be carefully vetted and ensure progress in key development priorities. An International Monetary Fund (IMF) team,…

AFRITAC South Holds Seminar on Strengthening Supervisory Approaches to AML/CFT

During May 16-20, 2016, the International Monetary Fund’s Regional Technical Assistance Center for Southern Africa (AFRITAC South) held a seminar at the premises of the IMF’s Africa Training Institute in Mauritius on Risk-Based Approaches to Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) Supervision. The event brought together…

IMF’s Regional Technical Assistance Center for Southern Africa Supports Strengthening Risk Based Supervision

On February 22–26, the International Monetary Fund’s (IMF) Regional Technical Assistance Center in Southern Africa (AFRITAC South) held a regional seminar at the Africa Training Institute in Mauritius on improving compliance with Risk Based Supervision (RBS) and Pillar 2 of Basel II. The event brought together senior and mid-level officials…

The IMF’s Regional Technical Assistance Center South Supports Strengthening Coordinated Border Management

On February 15–19, 2016, AFRITAC South held a seminar at the Africa Training Institute in Mauritius on improving compliance of indirect taxes and coordinated border management (CBM). The event brought together senior customs officials from revenue administrations from Angola, Comoros, Lesotho, Madagascar, Mauritius, Namibia, Seychelles, South Africa, Swaziland, Zambia and…

Conference on Small Middle-Income Countries in Sub-Saharan Africa: Joint Statement by Deputy Managing Director Min Zhu and Governor Linah Mohohlo of the Bank of Botswana

The Governor of the Bank of Botswana, Ms. Linah Mohohlo, and the Deputy Managing Director of the International Monetary Fund, Mr. Min Zhu, hosted today in Gaborone, Botswana, a regional conference entitled “Small Middle-Income Countries in Sub-Saharan Africa—Raising the Bar” [1]. Delegates included senior officials from a number of countries…

The IMF’s Regional Technical Assistance Center South Supports Strengthening the Administration of Large Taxpayers in the Southern Africa region

On October 5-9, 2015, AFRITAC South organized a seminar that brought together senior Tax Administration Officials in charge of designing, leading, and implementing tax administration systems for large taxpayers from Angola, Botswana, Comoros, Lesotho, Madagascar, Mauritius, Mozambique, Namibia, Seychelles, Swaziland, Zambia, and Zimbabwe. The event was hosted by the African…