The Monetary Policy Committee (MPC) of the Central Bank of Lesotho (CBL), held its 83rd meeting on Friday the 22nd May 2020 to consider international, regional and domestic economic developments and financial markets conditions.

Governor of the Central Bank of Lesotho (CBL) Dr. Ret’selisitsoe Matlanyane said according to the CBL measure of economic activity, economic performance in Lesotho declined by 0.6% in March, relative to 0.2% decrease in February this year.

She said while economic forecasts are likely to change, the economy is expected to contract by 5.7% in 2020, mainly due to COVID-19 infection control measures.

She further noted that the rate of inflation measured by year-on-year percentage change in consumer price index (CPI), decreased from 4.2% in February to 4.0% in March 2020.