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 governmentas 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.Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Extension of the Arrangement ... The authorities intend to improve the business climate and access to finance, as planned under the NSDP . ... advance the national identification card project and work toward establishing the credit rating system (to foster bank ... capital and sufficient liquidity (Table 6), effective implementation of the new Financial Institutions Act (FIA) will help to reduceanbsp;...
|Title||:||Kingdom of Lesotho|
|Author||:||International Monetary Fund. African Dept.|
|Publisher||:||International Monetary Fund - 2013-05-22|