Economy of Lesotho Swaziland, Namibia, and South Africa also form a common currency and exchange control area known as the Rand Monetary Area that uses the South African rand as the common currency. In 1980, Lesotho introduced its own currency, the loti (plural: maloti). One hundred lisente equal one loti. The Loti is at par with the rand. Until the political insecurity in September 1998, Lesotho's economy had grown steadily since 1992. The riots, however, destroyed nearly 80% of commercial infrastructure in Maseru and two other major towns in the country, having a disastrous effect on the country's economy. Nonetheless, the country has
Rand School of Social Science unions centered in New York. In 1935, the Rand School changed its name to the "Tamiment Institute and Library," although it continued to use the imprint "Rand School Press" for its printed publications. During the Socialist Party split of 1936, the Rand School of Social Science followed the Old Guard faction out of the party and into the new Social Democratic Federation. During this final interval the school became to be supported in an increasing percentage by the profits generated by Camp Tamiment, the SDF's country summer camp for trade union workers. by the late 1930s more than half of