Download or read book Kingdom of Lesotho 2022 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Kingdom of Lesotho written by International Monetary Fund. African Dept. and published by INTERNATIONAL MONETARY FUND. This book was released on 2022-06-07 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lesotho has been simultaneously hit by the pandemic, declining transfers from the Southern African Customs Union (SACU), and the impact of the war in Ukraine. The pandemic exacerbated the impact of sluggish regional performance, climate shocks, and longstanding structural issues such as regulation, governance, political stability, financial inclusion, and diversification. Public expenditure has continued to increase, such that the decline in external transfers precipitated significant financing pressures and growing domestic arrears. With limited inflows to the private sector, the resulting public sector-driven external imbalances have continued to put pressure on international reserves needed to maintain the exchange rate peg.
Download or read book Kingdom of Lesotho written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-07-20 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: The government-driven growth model remains a challenge for sustainable and inclusive growth in Lesotho, displacing resources from the private sector. Growth and inflation are subject to the impact of the war in Ukraine, sluggish regional performance, climate shocks, and longstanding structural issues including governance and corruption vulnerabilities, limited financial access, and fragile public financial management. The recently-elected government is prioritizing fiscal consolidation on the back of windfall transfers from the Southern African Customs Union (SACU) that have helped alleviate pressures on both financing and reserves.
Download or read book Kingdom of Lesotho written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-04-30 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation highlights that while international reserves are at adequate levels and banks remain well-capitalized in the Republic of Lesotho, domestic arrears are beginning to impact the broader economy, exacerbating growth challenges posed by structural impediments. The recently passed FY2019/20 budget envisages an ambitious consolidation that could begin to lay the groundwork for a transition to private-sector driven growth. Construction related to the second phase of the Lesotho Highlands Water Project will support medium-term growth, and the diamond and textile industries have positive prospects. Fiscal adjustment is needed to address government arrears, buttress debt sustainability, and safeguard the link to the rand. Generating strong and inclusive growth will require improved public service delivery and the private sector to become the primary engine of job creation. Better targeting of the government’s resources, Public Financial Management reforms, and reorienting both expenditures and the role of government in the economy will be critical to achieve these goals.
Download or read book Kingdom of Lesotho written by Robert Sharer and published by . This book was released on 2010 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Kingdom of Lesotho 2008 Article Iv Consultation Staff Report Staff Supplement Public Information Notice on the Executive Board Discussion and Statement by Theexecutive Director for the Kingdom of Lesotho written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Kingdom of Lesotho 2007 Article IV Consultation written by Robert Sharer and published by . This book was released on 2008 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Catastrophe Containment and Relief Trust Fourth Tranche of Debt Service Relief in The Context of The Covid 19 Pandemic and Approval of Additional Beneficiary Member Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-10-08 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides brief updates for each CCRT-eligible country on its policy responses to the pandemic and on staff’s assessments of these policies, the use of resources freed up by debt service relief, and the implementation of governance safeguards commitments. The paper also provides an update on the financial situation of the CCRT. The generous support from 17 donor countries and the EU has mobilized SDR 609 million in new pledges since the onset of the pandemic.
Download or read book Kingdom of Lesotho written by International Monetary Fund. Statistics Dept. and published by International Monetary Fund. This book was released on 2018-10-03 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance Report discusses the findings and recommendations made by the IMF mission regarding compilation of Government Finance Statistics (GFS) in Lesotho. The IMF mission reviewed current compilation methods of GFS for the budgetary central government and found that there were significant accuracy, classification, coverage, and comprehensiveness issues that undermine the credibility of fiscal statistics currently compiled and disseminated. Currently compiled and disseminated GFS include a large and persistent statistical discrepancy. The statistical discrepancy averaged to about a third of total revenue in preliminary data for FY2016/17 and FY2017/18. The mission also identified and discussed with the staff of the Ministry of Finance a number of reasons that may partly explain the discrepancy.
Download or read book Timor Leste 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Timor Leste written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-14 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although Timor-Leste has made considerable progress in many areas since its independence in 2002, it faces significant medium-term challenges. The nation has pressing development needs, young institutions, and is highly dependent on oil. Oil revenues from active fields, which have been the main source of funding for government spending, are drying up. The non-oil private sector economy remains underdeveloped and lack of good jobs and high youth unemployment are serious concerns.
Download or read book Kingdom of Eswatini written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-05-05 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eswatini is at an important juncture as the authorities seek to address long-standing macroeconomic challenges in a shock-prone environment. While Eswatini has endured the pandemic and successive shocks from international commodity prices, fiscal and external buffers are low. Addressing long-standing macroeconomic imbalances—stemming mainly from fiscal overruns—remains a critical priority. Government efforts in this area have already begun but will need to be sustained over the medium-term. In tandem, shifting from a state-led to a private sector and export-led growth model will be essential to achieve higher and sustained levels of inclusive growth necessary for poverty reduction. Focused efforts to address the underlying causes of recent civil unrest, together with concerted efforts to tackle gaps in governance, are also needed.
Download or read book Kingdom of Lesotho 2005 Article IV Consultation written by Sharmini Coorey and published by . This book was released on 2005 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Botswana written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-03-27 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation focuses on Botswana near- and medium-term challenges and policy priorities and was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity, and financial markets. Gross domestic product growth is forecasted to pick up to 4.4 percent in 2020 and 5.6 percent in 2021 as the diamond industry recovers somewhat, and a new copper mine comes on stream. Growth will ease back to around 4 percent over the medium term. Risks to the outlook include faster-than-anticipated slowdown in key trading partners, shifts in consumer preferences to synthetic diamonds, and climate shocks. The size and pace of the planned adjustment are consistent with Botswana’s fiscal space, but the composition of the adjustment should protect efficient capital and social spending. Furthermore, given that buffers are being eroded, it is critical that consolidation starts as envisaged in FY2020, as it would help start addressing external imbalances and contribute to a gradual rebuilding of buffers over the medium term. In order to strengthen the monetary transmission mechanism and deepen the domestic financial market, there is a need to develop the secondary market for government securities, leverage Fintech, facilitate the attachment of collateral, and improve credit information.
Download or read book Kingdom of Lesotho written by Jean Clément and published by . This book was released on 2006 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Kingdom of Lesotho written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2018-03-05 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper provides further background on the macrofinancial sector analysis that informed Lesotho’s 2017 Article IV consultation. Lesotho’s financial sector is small, concentrated, and lacks financial inclusion, although mobile banking services and financial cooperatives offer some encouraging potential. Lesotho’s most important vulnerabilities are exposure to developments in South Africa and dependence on revenues from the Southern African Customs Union (SACU). Shocks to SACU revenues can become a source of systemic risk by affecting the fiscal position and the balance of payments. The financial system will be affected by both channels, with substantial implications if the shock is permanent. This paper focuses on two potential consequences of a severe SACU revenue shock for the financial system: A decline in reserves that may threaten the sustainability of the hard currency peg with the South African rand, and the impact of a forced fiscal consolidation on household income and the quality of credit to households, affecting both bank and nonbank lenders. It turns out that financial shallowness and lack of inclusion may be a defining feature of the formal banking system; thereby raising questions about potential trade-offs between inclusiveness and financial stability.
Download or read book International Health Regulations 2005 written by World Health Organization and published by World Health Organization. This book was released on 2008-12-15 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to the call of the 48th World Health Assembly for a substantial revision of the International Health Regulations, this new edition of the Regulations will enter into force on June 15, 2007. The purpose and scope of the Regulations are "to prevent, protect against, control and provide a public health response to the international spread of disease in ways that are commensurate with and restricted to public health risks, and which avoid unnecessary interference with international traffic and trade." The Regulations also cover certificates applicable to international travel and transport, and requirements for international ports, airports and ground crossings.
Download or read book Kingdom of Swaziland written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2017-09-11 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2017 Article IV Consultation highlights that the macroeconomic conditions have recently deteriorated in Swaziland. In 2016, two shocks—a prolonged drought and a sharp decline in South African Customs Union (SACU) receipts—severely hit the economy, while an expansionary fiscal policy worsened fiscal and external balances. Growth in 2016 stagnated, as agricultural productions declined, and headline inflation increased sharply, mostly owing to rising food prices. Fiscal policy remains on an expansionary course, while the monetary stance has tightened. Despite a pickup in SACU revenue, the 2017 budget envisages a continuation of large fiscal deficits, and further increase in public debt.
Download or read book Local Economic and Employment Development LEED Culture and Local Development written by OECD and published by OECD Publishing. This book was released on 2005-04-21 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication highlights the impact of culture on local economies and the methodological issues related to its identification.
