The current global macroeconomic and financial landscape continue to present daunting challenges to policy makers in the sub-Saharan Africa (SSA) region. The foregoing challeneges require us to collectively build resillience, but such resillience calls for a bold decisions and medium - to long term reforms. Such reforms should target restoring macroeconomic stability for shared prosperity. They should harness the potential for the green transition and digital technology.

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Macroeconomic Nowcasting and Forecasting using Machine Learning Techniques

In simpler terms:

  1. Macroeconomic Nowcasting: This provides real-time updates on the current state of the economy, helping economists understand immediate economic conditions with minimal delay.
  2. Forecasting: This projects future economic trends using current and historical data, aiding in making informed predictions about the economy's direction.
  3. Machine Learning Techniques: These advanced computational methods analyze vast amounts of data to identify patterns and enhance the accuracy of economic predictions.

"Yes, these processes indeed help economists assess the likely paths of economic activity and provide quick updates on the economy, as well as predictions about what might happen in the future".

The Central Bank of Lesotho (CBL), in collaboration with the Bureau of Statistics (BOS), organized a sensitization workshop for entities that provide data and use economic reports for their various planning and decision making processes on 28th August, 2019. This was done as an attempt to create a close collaboration and a rapport with the same institutions in order to improve data compilation and dissemination for macroeconomic management.

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Financial Indicators

09 December 2024

Loti / US Dollar       17.9128
Loti / Euro 18.9284
Loti / Pound 22.8633
Loti / SDR 23.3686

 

Monthly Inflation (%) 2023 to 2024

Net International Reserves

RESEARCH & SUPERVISION DATA

17.2773
17.1507