The Kingdom of Swaziland: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director

March 3, 2008

Preview Citation

Format: Chicago

The Kingdom of Swaziland: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director, (USA: International Monetary Fund, 2008) accessed November 26, 2024

Summary

The Swazi economy has continued to register sluggish economic activity even as rising Southern African Customs Union revenue contributed to a large fiscal surplus and accumulation of international reserves. The unchecked growth of insufficiently regulated saving and credit cooperatives poses risks to the financial system. Fiscal policy should safeguard priority spending and fiscal sustainability. Executive Directors commend the government’s effort in rebuilding international reserves. Further efforts are needed to improve the quality and timeliness of data to better facilitate policy formulation and monitoring.

Subject: Expenditure, External debt, Fiscal policy, Public debt

Keywords: Africa, Banking soundness indicator, CR, Exchange rate, Global, Government, IMF staff estimate, ISCR, SACU receipt, SACU revenue, SACU transfer, Southern Africa, Swazi authorities, Swaziland

Publication Details

Pages:

52
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/085
Stock No:

1SWZEA2008001
ISBN:

9781451836134
ISSN:

1934-7685

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