Compare Lesotho (2008) - Lesotho (2007)

Compare Lesotho (2008) z Lesotho (2007)

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	Lesotho (2008)	Lesotho (2007)

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 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.	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.
Budget	revenues: $951.4 million expenditures: $855.4 million (2007 est.)	revenues: $995.8 million expenditures: $763.2 million (2006 est.)
Debt - external	$693 million (31 December 2007 est.)	$652 million (2006 est.)
Diplomatic representation from the US	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	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
Diplomatic representation in the US	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	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
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. In July 2007 Lesotho signed a Millennium Challenge Account Compact with the US worth $362.5 million.	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.
Exchange rates	maloti per US dollar - 7.25 (2007), 6.85 (2006), 6.3593 (2005), 6.4597 (2004), 7.5648 (2003)	maloti per US dollar - 6.85 (2006), 6.3593 (2005), 6.4597 (2004), 7.5648 (2003), 10.541 (2002)
Exports	0 bbl/day (2004)	NA bbl/day
GDP - composition by sector	agriculture: 15.2% industry: 45% services: 39.7% (2007 est.)	agriculture: 18.2% industry: 40.8% services: 41% (2006 est.)
GDP - real growth rate	4.8% (2007 est.)	6.2% (2006 est.)
Imports	1,400 bbl/day (2004)	NA bbl/day
Industrial production growth rate	12% (2007 est.)	15.5% (1999)
Inflation rate (consumer prices)	12% (2007 est.)	6.1% (2006 est.)
Labor force	838,000 (2000 est.)	838,000 (2000)

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