Kingdom of Eswatini: Selected Issues

International Monetary Fund

No 2024/305, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper highlights climate change impacts in Eswatini. Eswatini is highly susceptible to climate shocks and is impacted by frequent droughts, erratic rainfall, variability in temperature, and water scarcity. Climate change is affecting Eswatini in several ways. With over 70 percent of the population dependent on agriculture, the increased frequency of extreme weather phenomena necessitates adaptation to create a climate-smart agricultural sector with a long-run objective of ensuring food security and generating exportable surpluses. Focusing on sustainable energy is also pertinent to reduce reliance on carbon-intensive energy production that exacerbates climate stress. Eswatini should be seeking access to green financing and insurance mechanisms to protect against the financial impacts of climate change. Insurance plays a crucial role in providing a safety net against the unpredictable impacts of disasters. By spreading the financial risk associated with natural disasters, insurance helps to stabilize economies and support recovery efforts.

Keywords: labor market indicator; NOWCASTING SWZ; Unemployment insurance in ESWATINI; GDP forecasting model; core element; Unemployment benefits; Natural disasters; Climate finance; Climate change; Unemployment; Africa; Global; Southern Africa; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 26
Date: 2024-09-30
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