Lesotho. According to countryaah, Maseru is the capital and one of the major cities within the country of Lesotho. The first nationwide municipal elections were held in April, but were characterized by low interest. The opposition boycotted the elections with reference to poor preparation and unclear powers for the new municipal assemblies, which will replace the previous system of municipal government exercised by traditional chieftains in collaboration with government officials.
|Gross domestic product (GDP)||$ 6,656,000,000|
|GDP growth rate||-1.60%|
|GDP per capita||$ 3,300|
|GDP by sector|
|Proportion of the population below the national poverty line||49%|
|Distribution of household income|
|Industrial production growth rate||0.70%|
|Investment volume||24.4% of GDP|
|National debt||33.70% of GDP|
|Foreign exchange reserves||$ 983,000,000|
Lesotho is also a country in deep economic and social crisis, where high rates of HIV/AIDS, depleted soils and high unemployment have led to an economic decline. The International Monetary Fund said that Lesotho would need 7.5% annual growth to meet the so-called millennium target of halved poverty by 2015. Instead, growth declined from 3% to about 2% in the 2004/05 financial year.