Kingdom of Swaziland: 2010 Article IV Consultation—Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Swaziland

International Monetary Fund

No 2011/025, IMF Staff Country Reports from International Monetary Fund

Abstract: The Swaziland economy continues to underperform, reflecting the impact of the global economic crisis. The impact of the crisis has been felt mostly in revenue transfers of the Southern African Customs Union (SACU) to Swaziland. Executive Directors welcomed Fiscal Adjustment Roadmap (FAR), which focused on restoring fiscal sustainability, improving competitiveness, and strengthening financial supervision. They noted that key challenges are restoring fiscal sustainability, addressing HIV/AIDS, reducing poverty, and creating employment. Directors emphasized the need for fiscal adjustment and budgetary reforms. Directors noted that the banking system remains in good health.

Keywords: ISCR; CR; Swaziland; revenue performance; financial crisis; debt ratio; priority spending; spending; Swaziland economy; wage bill; enhancing competitiveness; program objective; Real interest rates; Africa; Global; Southern Africa (search for similar items in EconPapers)
Pages: 59
Date: 2011-01-24
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