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The Central Bank of Lesotho (CBL) was first established as the Lesotho Monetary Authority in 1978, under the Lesotho Monetary Authority Act of 1978. It started its operations on January 2nd 1980. The Central Bank of Lesotho is a statutory organisation fully owned by the Government of Lesotho. The Mission of the Central Bank of Lesotho is to implement appropriate monetary policy and proffer sound financial and fiscal advice for the well-being of the country. The principal objective of the Central Bank of Lesotho, as stipulated in the Central Bank of Lesotho Act of 2000, is to achieve and maintain price stability.