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

January 24, 2011

Preview Citation

Format: Chicago

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, (USA: International Monetary Fund, 2011) accessed November 21, 2024

Summary

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.

Subject: Expenditure, External debt, Financial services, Public debt, Real interest rates, Revenue administration

Keywords: Africa, CR, Debt ratio, Enhancing competitiveness, Financial crisis, Global, ISCR, Priority spending, Program objective, Real interest rates, Revenue performance, Southern Africa, Spending, Swaziland, Swaziland economy, Wage bill

Publication Details

Pages:

59
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/025
Stock No:

1SWZEA2011001
ISBN:

9781455213818
ISSN:

1934-7685

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