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Lesotho; Fourth Review Under the Poverty Reduction and Growth Facility Arrangement and Request for Waiver of Performance Criteria-Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Lesotho

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  • International Monetary Fund
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    Abstract

    This paper assesses Lesotho’s Fourth Review Under the Poverty Reduction and Growth Facility Arrangement and Request for Waiver of Performance Criteria. Lesotho’s economic program was broadly on track through December 2002, but large fiscal slippages emerged by end-March 2003. IMF staff welcomes the government’s strong commitment to its economic program and recommends completion of the fourth review. It supports a waiver for the nonobserved quantitative performance criterion because of the actions taken by the government to reduce nonessential spending in 2002/03 and because of its commitment to implement sustainable fiscal policies in the medium term.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Staff Country Reports with number 03/169.

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    Length: 62
    Date of creation: 19 Jun 2003
    Date of revision:
    Handle: RePEc:imf:imfscr:03/169

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    Related research

    Keywords: Poverty Reduction and Growth Facility; central bank; domestic financing; external financing; balance of payments; external debt; domestic debt; monetary policy; current account; monetary fund; inflation; monetary survey; discount rate; external payments arrears; external payments; repayments; government debt; quasi money; monetary compensation; foreign debt; debt service; current account deficit; external borrowing; reserve assets; debt dynamics; monetary impact; official reserves; monetary area; nonconcessional debt; central banks; monetary control; current account balance; external debt service; public external debt; long-term debt; monetary statistics; capital account liberalization; repurchases; external loans; commercial creditors; private creditors; multilateral creditors; treasury operations; debt data; monetary indicators; monetary program; sdr holdings; debt office; budget projections; imf repurchases; debt outstanding; bilateral creditors; debt ratio; government deficits; external debt data; monetary data; monetary accounts; balance of payment; debt service obligations; short-term debt; public and publicly guaranteed; monetary policy operations; debt problem; external liabilities; general resources account; monetary policy implementation; monetary policies;

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