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
This paper assesses Lesothoâ€™s Fourth Review Under the Poverty Reduction and Growth Facility Arrangement and Request for Waiver of Performance Criteria. Lesothoâ€™s economic program was broadly on track through December 2002, but large fiscal slippages emerged by end-March 2003. IMF staff welcomes the governmentâ€™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.
|Date of creation:||19 Jun 2003|
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