Africa-Press – Lesotho. The Governor of the Central Bank of Lesotho (CBL), Dr. Maluke Letete has dismissed claims that Lesotho is drowning in debt, saying such statements are misleading and not supported by official data.
Speaking during a media briefing in Maseru on Tuesday ahead of the Monetary Policy Committee (MPC) statement, Dr. Letete emphasized that although the country is managing a growing debt portfolio, it remains within sustainable and manageable levels as compared to other SADC countries.
Dr. Letete explained that Lesotho’s debt-to-GDP ratio is still below the regional and international thresholds that typically signal debt distress.
He added that the bulk of the country’s public debt consists of concessional loans with low interest rates and long repayment periods, which ease pressure on government finances.
“It is important for the public to understand that debt, on its own, is not a crisis. What matters is its composition, cost and sustainability. Lesotho’s debt remains within acceptable limits and the government continues to service it without difficulty,” he said.
He further noted that the CBL continues to monitor macroeconomic stability indicators closely, working jointly with the Ministry of Finance to ensure the country avoids falling into high-risk debt categories.
He urged the public to rely on verified economic data rather than speculation often shared on social media platforms, which he said risks creating unnecessary panic.
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