Lesotho: IMF Executive Board Concludes 2023 Article Iv Consultation With Kingdom of Lesotho

Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with the Kingdom of Lesotho.

Lesotho’s economy continues to face a number of challenges in the wake of the pandemic. Climate shocks, delays to infrastructure projects, high food and fuel prices, declining diamond prices, layoffs in the textiles sector, and weak regional and external demand are weighing on activity. High public expenditure also continues to distort incentives and…