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Country · LSO

Lesotho · Finances and debt

Source: IMF, World Economic Outlook (October 2026) · copied on 2026-11-11

Public finances and external accounts

A fiscal surplus of 4.9 % of GDP

Lesotho: in 2025, the general government collected 4.9 % of GDP more than it spent, public debt stood at 49.4 % of GDP, the current account showed a deficit of 1.2 % (IMF).

Fiscal balance · 2025
+4.9 %
of GDP · +3.5 pt since 2020
Public debt · 2025
49.4 %
of GDP · −5.3 pt since 2020
Current account · 2025
−1.2 %
of GDP · +3.3 pt since 2020

Fiscal balance, % of GDP

Negative: a deficit · dashed: estimates and projections

−10 % −5 % 0 % 5 % 10 % 2015 2020 2025 2030 Lesotho 2.7 Southern Africa −3.7 −10 % −5 % 0 % 5 % 10 % 2015 2020 2025 2030
  • Lesotho
  • Southern Africa

Source: IMF, World Economic Outlook (October 2026) · general government net lending or borrowing · group values weighted by GDP in dollars (Syli Atlas)

Current account, % of GDP

Trade, income and transfers with the rest of the world

−15 % −10 % −5 % 0 % 5 % 2015 2020 2025 2030 Lesotho 0.2 −15 % −10 % −5 % 0 % 5 % 2015 2020 2025 2030

Source: IMF, World Economic Outlook (October 2026)

Currency

Loti

Lesotho belongs to the Common Monetary Area: the loti is at par with the South African rand, which also circulates in the country.

Currency
LSL
loti
Exchange regime
Fixed
1 ZAR = 1 LSL
Inflation · 2025
4.0 %
average annual change in consumer prices

Currency codes: ISO 4217 · fixed parities: central banks (BCEAO, BEAC, Central Bank of the Comoros, Bank of Cape Verde…) · inflation: IMF, World Economic Outlook (October 2026)

Debt

A debt owed first to multilateral lenders

At the end of 2025, Lesotho owed 1.1 bn$ in public external debt (World Bank). 16.2 % of it was owed to China, 80.6 % to multilateral institutions and 0.0 % to bond holders.

Debt of the 54 countries →
Public debt · 2025
49.4 %
of GDP · IMF
External debt · 2025
2.0 bn$
public and private · World Bank
Public external debt · 2025
1.1 bn$
owed or guaranteed by the State
Debt service · 2024
4.8 %
of exports of goods, services and income

Risk of debt distress

IMF and World Bank debt sustainability analysis

Latest analysis published on 2025-09-18: moderate.

Source: IMF, list of debt sustainability analyses of low-income countries, as of 2026-03-31 · imf.org

Public external debt by creditor

Share of the total at the end of each year

2015
2020
2025
Multilateral (IMF, World Bank, AfDB…)
80.6 %
China
16.2 %
Other countries
3.0 %
Bonds (Eurobonds)
0.0 %
Banks and other private lenders
0.2 %

Source: World Bank, International Debt Statistics (updated 2026-11-05) · public and publicly guaranteed external debt, end of year · CC BY 4.0 · shares: Syli Atlas calculation