Kingdom of Eswatini: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of Eswatini

July 30, 2020

Preview Citation

Format: Chicago

Kingdom of Eswatini: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of Eswatini, (USA: International Monetary Fund, 2020) accessed December 21, 2024

Summary

The COVID-19 pandemic is having a severe impact on Eswatini’s economy at a time when the country is already facing deep economic challenges, and the government has begun fiscal consolidation efforts. A national lockdown to contain the spread of the virus, disruptions in supply chains, and lower external demand for key exports are curtailing economic activity. While the authorities’ policy response has been timely and proactive, the economic shock and containment policies are triggering a severe recession with significant social costs, and have created urgent balance of payments needs. The pandemic is unfolding in a context of high prevalence of HIV/AIDS and a stretched health care system, which increase Eswatini’s vulnerability.

Subject: Balance of payments, Banking, COVID-19, Financial account, Fiscal accounting and reporting, Fiscal consolidation, Fiscal policy, Health, Public debt, Public financial management (PFM), Revenue administration

Keywords: Africa, Authority, Clearance strategy, COVID-19, COVID-19 Pandemic, CR, Emergency financing request, Financial account, Financing, Financing gap, Fiscal accounting and reporting, Fiscal consolidation, IMF emergency financial support, IMF support, ISCR, Private sector financing pressure, RFI purchase

Publication Details

Pages:

45
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/229
Stock No:

1SWZEA2020002
ISBN:

9781513551869
ISSN:

1934-7685

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