Govt confirms IMF loan

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The government of Lesotho has confirmed receiving a US$49.1 (M814 million) loan from the International Monetary Fund.

This after the IMF Executive Board announced last week that it had approved US$49.1 million in Emergency Support to Lesotho to meet the urgent Balance of Payment needs stemming from the outbreak of the COVID-19 pandemic.

The ministry of finance confirmed in a statement on Monday that the government had requested to enter into an agreement with the International Monetary Fund (IMF) through the Rapid Credit Facility (RCF) and the Rapid Financing Instrument (RFI) to support eminent Balance of Payments imbalances