Department of Research

The Department of Research work is enshrined in the Central Bank of Lesotho Act No.2 of 2000. The Department implements the Bank’s function of:
a) Ensuring monetary stability pursuant to Sections 5 and 6 (c) & (d)
b) Being advisor to Government pursuant to Section 41 (3) (c) (i) & (ii)
c) Producing reports on the state of the economy pursuant to Section 46 (1) & (2)

Key Functions

  1. Pursuant to Sections 5 and 6 (c) & (d) the Department is responsible for the implementation of monetary policy which involves maintaining the peg between the Loti and the Rand. The Department is the Secretariat to the Monetary Policy Committee (MPC) of the Bank. The research and analysis that informs the monetary policy stance by the MPC is conducted by the Department.
  2. Pursuant to Sections 41(3) and 46(1) the Department is responsible for conducting economic research and analysis and proffer advice to Government through submission of reports to the office of the Minister of Finance.
  3. Pursuant to Section 46(2), the Department publishes the reports it produces through regular economic reviews and seminars.

Scope of Work
The work of the Department is therefore organized around the following activity clusters:

  • Research & Analysis
  • Reports & Publications
  • Collection, Compilation &Dissemination of Statistics
  • Projections & Forecasts
  • Monetary Policy Operations
  • Regional Integration Activities

The Department is organized into four Divisions supported by a Unit as follows:

  • International Economics Division
  • Statistics Division
  • Studies & Analysis Division
  • Modelling & Forecasting Division
  • Knowledge Management Unit


Financial Indicators

03 February 2023

Loti / US Dollar       17.0679
Loti / Euro 18.6014
Loti / Pound 20.8598
Loti / SDR 23.1674


Monthly Inflation (%) 2021 to 2022

Net International Reserves