Maseru, Feb. 05 — The Central Bank of Lesotho (CBL) has announced that the country’s economic growth reached 3.1 percent in November 2024, driven by strong consumer spending and exports.
Announced at a press conference yesterday, this positive growth comes despite global economic challenges, including a weaker manufacturing sector in Europe and trade uncertainties.
According to the Monetary Policy Committee (MPC), the country’s Net International Reserves (NIR) have increased to $840 million, providing 4.7 months of import cover.
The MPC also decided to lower the Central Bank of Lesotho (CBL) rate by 25 basis points to 7.25 percent per annum to align with prevailing domestic economic conditions.
