Lesotho : Third Review Under the Poverty Reduction and Growth Facility Arrangement and Request for Waivers of Performance Criteria / International Monetary Fund
Published
Washington, D.C. : International Monetary Fund, 2002
This paper assesses Lesotho's Third Review Under the Poverty Reduction and Growth Facility (PRGF) Arrangement and Request for Waivers of Performance Criteria. The government has declared a state of famine that is affecting an estimated 900,000 people. One quantitative performance criterion for end-March 2002-the ceiling on the government's domestic financing requirement-was not observed, almost entirely because of delays in external payments. The authorities have requested, and IMF staff supports, a waiver on this performance criterion