Kingdom of Lesotho: 2024 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Kingdom of Lesotho

Author: International Monetary Fund. African Dept.

Volume/Issue: Volume 2024 Issue 288

Publication date: September 2024

ISBN: 9798400287428

$20.00

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Public Finance , Inflation , Contingent liabilities , Debt sustainability , Government debt management , Fiscal stance , Debt sustainability analysis

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Grenada

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Republic of Congo : 2001 Article IV

Summary

Lesotho’s economy has been struggling with subdued growth, high unemployment, and widespread poverty. The government-led growth model has resulted in an economy heavily reliant on public spending, with a small and undiversified private sector. This has led to low private investment, declining competitiveness, and high informality. Additionally, the economy is highly dependent on rain-based agriculture, making it vulnerable to climate-related shocks.