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 Lesotho (2007)Lesotho (2008)
 LesothoLesotho
Background Basutoland was renamed the Kingdom of Lesotho upon independence from the UK in 1966. The Basuto National Party ruled for the first two decades. King MOSHOESHOE was exiled in 1990, but returned to Lesotho in 1992 and reinstated in 1995. Constitutional government was restored in 1993 after 7 years of military rule. In 1998, violent protests and a military mutiny following a contentious election prompted a brief but bloody intervention by South African and Botswanan military forces under the aegis of the Southern African Development Community. Constitutional reforms have since restored political stability; peaceful parliamentary elections were held in 2002. Basutoland was renamed the Kingdom of Lesotho upon independence from the UK in 1966. The Basuto National Party ruled for the first two decades. King MOSHOESHOE was exiled in 1990, but returned to Lesotho in 1992 and was reinstated in 1995. Constitutional government was restored in 1993 after seven years of military rule. In 1998, violent protests and a military mutiny following a contentious election prompted a brief but bloody intervention by South African and Botswanan military forces under the aegis of the Southern African Development Community. Subsequent constitutional reforms restored relative political stability. Peaceful parliamentary elections were held in 2002, but the National Assembly elections of February 2007 were hotly contested and aggrieved parties continue to periodically demonstrate their distrust of the results.
Budget revenues: $995.8 million


expenditures: $763.2 million (2006 est.)
revenues: $951.4 million


expenditures: $855.4 million (2007 est.)
Debt - external $652 million (2006 est.) $693 million (31 December 2007 est.)
Diplomatic representation from the US chief of mission: Ambassador June Carter PERRY


embassy: 254 Kingsway, Maseru West (Consular Section)


mailing address: P. O. Box 333, Maseru 100, Lesotho


telephone: [266] 22 312666


FAX: [266] 22 310116
chief of mission: Ambassador Robert NOLAN


embassy: 254 Kingsway, Maseru West (Consular Section)


mailing address: P. O. Box 333, Maseru 100, Lesotho


telephone: [266] 22 312666


FAX: [266] 22 310116
Diplomatic representation in the US chief of mission: Ambassador Molelekeng E. RAPOLAKI


chancery: 2511 Massachusetts Avenue NW, Washington, DC 20008


telephone: [1] (202) 797-5533 through 5536


FAX: [1] (202) 234-6815
chief of mission: Ambassador (vacant); Charge d'Affaires Mabasia MOHOBANE


chancery: 2511 Massachusetts Avenue NW, Washington, DC 20008


telephone: [1] (202) 797-5533 through 5536


FAX: [1] (202) 234-6815
Economy - overview Small, landlocked, and mountainous, Lesotho relies on remittances from miners employed in South Africa and customs duties from the Southern Africa Customs Union for the majority of government revenue. However, the government has recently strengthened its tax system to reduce dependency on customs duties. Completion of a major hydropower facility in January 1998 now permits the sale of water to South Africa and also generates royalties for Lesotho. Lesotho produces about 90% of its own electrical power needs. As the number of mineworkers has declined steadily over the past several years, a small manufacturing base has developed based on farm products that support the milling, canning, leather, and jute industries, as well as a rapidly expanding apparel-assembly sector. The latter has grown significantly mainly due to Lesotho qualifying for the trade benefits contained in the Africa Growth and Opportunity Act. The economy is still primarily based on subsistence agriculture, especially livestock, although drought has decreased agricultural activity. The extreme inequality in the distribution of income remains a major drawback. Lesotho has signed an Interim Poverty Reduction and Growth Facility with the IMF. Small, landlocked, and mountainous, Lesotho relies on remittances from miners employed in South Africa and customs duties from the Southern Africa Customs Union for the majority of government revenue. However, the government has recently strengthened its tax system to reduce dependency on customs duties. Completion of a major hydropower facility in January 1998 now permits the sale of water to South Africa and also generates royalties for Lesotho. Lesotho produces about 90% of its own electrical power needs. As the number of mineworkers has declined steadily over the past several years, a small manufacturing base has developed based on farm products that support the milling, canning, leather, and jute industries, as well as a rapidly expanding apparel-assembly sector. The latter has grown significantly mainly due to Lesotho qualifying for the trade benefits contained in the Africa Growth and Opportunity Act. The economy is still primarily based on subsistence agriculture, especially livestock, although drought has decreased agricultural activity. The extreme inequality in the distribution of income remains a major drawback. Lesotho has signed an Interim Poverty Reduction and Growth Facility with the IMF. In July 2007 Lesotho signed a Millennium Challenge Account Compact with the US worth $362.5 million.
Exchange rates maloti per US dollar - 6.85 (2006), 6.3593 (2005), 6.4597 (2004), 7.5648 (2003), 10.541 (2002) maloti per US dollar - 7.25 (2007), 6.85 (2006), 6.3593 (2005), 6.4597 (2004), 7.5648 (2003)
Exports NA bbl/day 0 bbl/day (2004)
GDP - composition by sector agriculture: 18.2%


industry: 40.8%


services: 41% (2006 est.)
agriculture: 15.2%


industry: 45%


services: 39.7% (2007 est.)
GDP - real growth rate 6.2% (2006 est.) 4.8% (2007 est.)
Imports NA bbl/day 1,400 bbl/day (2004)
Industrial production growth rate 15.5% (1999) 12% (2007 est.)
Inflation rate (consumer prices) 6.1% (2006 est.) 12% (2007 est.)
Labor force 838,000 (2000) 838,000 (2000 est.)
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