M700 million for Lesotho

’Masentle Makara

Maseru – The International Monetary Fund (IMF) Executive Board yesterday approved US$49.1 million (about M784 million) in Emergency Support to Lesotho to address the COVID-19 pandemic.

IMF reported that due to the pandemic consequences in Lesotho, the economy has been severely weakened with reduced exports and remittances. The US$49.1million is an emergency support under the Rapid Credit Facility to assist Lesotho meet urgent balance of payments needs emanating from the coronavirus pandemic.

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