Kingdom of Lesotho: 2024 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Kingdom of Lesotho

Africa

WASHINGTON, 11 September 2024 / PRN / -- Summary:Lesotho’s economy has been struggling with subdued growth, high unemployment, and widespread poverty. The government-led growth model has resulted in an economy heavily reliant on public spending, with a small and undiversified private sector. This has led to low private investment, declining competitiveness, and high informality. Additionally, the economy is highly dependent on rain-based agriculture, making it vulnerable to climate-related shocks.

SOURCE International Monetary Fund (IMF)