Kingdom of Lesotho

Kingdom of Lesotho

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The Extended Credit Facility (ECF) program extended to Lesotho after a sharp fall in revenues remained broadly on track. Lesotho maintained positive growth supported by expansion of mining and construction. Fiscal consolidation efforts have helped to strengthen international reserves, despite weak diamond prices. Executive Directors welcomed the governmenta€™s continued efforts to improve the business climate and promote private sector development. They also suggested the need to maintain fiscal consolidation efforts, while safeguarding priority social and growth-promoting capital spending.Public Financial Management (PFM): The Reform Plans PFM reforms have been gaining momentum and ownership. ... their purpose, content and dissemination in budget process instructions/manuals Compliance with the Eliminating the backlog of annual financial statements FY2012/13 regulatory framework Compliance with the Including accounts of subnational government and FY 2013/ 14 regulatoryanbsp;...

Title:Kingdom of Lesotho
Author: International Monetary Fund. African Dept.
Publisher:International Monetary Fund - 2013-05-22

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