Kingdom of Lesotho: Selected Issues and Statistical Appendix

Volume/Issue: Volume 2005 Issue 438

Publication date: December 2005

ISBN: 9781451823837

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Labor , Money and Monetary Policy , ISCR , CR , Lesotho , HIV , Aids , AIDS program , currency , CMA agreement , garment sector , adjustment effort , trade preference , HIV and AIDS , Currencies , Monetary unions , Exchange rates , Exports , Africa , Sub-Saharan Africa , Global , Southern Africa

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Summary

This Selected Issues paper on the Kingdom of Lesotho reviews the broad objectives and key institutional features of the Common Monetary Area (CMA) relating to currency arrangements. The CMA Agreement provides for the three small member countries to have access to South African capital and money markets, but only through prescribed investments or approved securities that can be held by financial institutions in South Africa. Lesotho’s exchange rate arrangement under the CMA shares certain characteristics of a currency board.