Kingdom of Lesotho; Staff Report for the 2012 Article IV Consultation and Second and Third Reviews Under the Three-Year Arrangement Under the Extended Credit Facility and a Request for Augmentation of Access: Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Kingdom of Lesotho.

This staff report examines the Kingdom of Lesothoâ€™s 2012 Article IV Consultation and second and third reviews under the three-year arrangement under the Extended Credit Facility. Real GDP growth for 2010/11 is estimated at 5Â¾ percent, and inflation rose gradually in 2011, driven by international commodity prices. Despite the sharp drop in Southern African Customs Union (SACU) revenues, fiscal performance in 2010/11 has been much better than programmed, reflecting higher domestic revenue collections and cuts in recurrent spending.

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Year of publication:	2012-05-11
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Article IV consultation reports \| Bank supervision \| Currency pegs \| Economic indicators \| Extended Credit Facility \| Fiscal consolidation \| Nonbank financial sector \| Poverty reduction strategy \| Staff Reports \| central bank \| debt service \| fiscal balance \| external debt \| public debt \| current account \| fiscal adjustment \| fiscal deficit \| balance of payments \| tax revenue \| domestic financing \| budget support \| external debt service \| fiscal operations \| debt sustainability \| capital expenditure \| current account deficit \| current account balance \| external borrowing \| fiscal consolidation efforts \| external financing \| fiscal performance \| fiscal position \| debt management \| domestic debt \| reserve assets \| repayments \| external payments \| fiscal adjustment efforts \| external payments arrears \| debt management strategy \| general budget \| revenue collection \| fiscal restraint \| fiscal revenue \| foreign loans \| fiscal tightening \| debt service payments \| fiscal consolidation effort \| nonconcessional debt \| fiscal surplus \| fiscal framework \| external shocks \| external debt-service obligations \| fiscal stance \| fiscal target \| debt-service \| tax base \| debt ratios \| government revenue \| fiscal discipline \| external liabilities \| foreign capital \| tax revenues \| debt-service obligations \| central government fiscal \| external public debt \| debt ratio \| fiscal adjustment effort \| domestic saving \| reserve bank \| public expenditure \| budget process \| balance of payment \| fiscal policy \| fiscal space \| government debt \| tax administration \| debt sustainability analysis \| government spending \| medium-term fiscal framework \| medium-term expenditure frameworks

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 12/101 8 pages long
Source:	RePEc - Research Papers in Economics

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