Lesotho must cut spending on govt wages to avoid slower growth: IMF

The International Monetary Fund has urged Lesotho to sharply reduce government spending on wages, currently the highest in sub-Saharan Africa, to prevent growth slowing even further. Lesotho's economic growth was likely to have slowed to 2.6 percent in 2015 from an average of 4.5 percent in the previous four years, the IMF said on Thursday in a report released at the conclusion of a visit to the country by its officials. Growth would average between 2.5 percent and 3 percent in 2016, depending o