Executive Board
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on the Kingdom of Swaziland:

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February 8, 2013
January 10, 2011
February 22, 2010
October 17, 2008
February 6, 2008

Article IV Staff Reports



Projected % Change
   2014  2015
Real GDP 2.1 2.1
Consumer Prices 5.5 5.2
Source: World Economic Outlook (April 2014)
Please refer to more recent PIN/Staff reports on this country for possible revisions.

Kingdom of Swaziland: Financial Position in the Fund

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Kingdom of Swaziland and the IMF
Updated April 11, 2014

The last Article IV Executive Board Consultation was on February 08, 2013. Listed below are items related to the Kingdom of Swaziland, in reverse chronological order (you can also view items by category).

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April 11, 2014 -- New IMFC Statement by Ngozi Okonjo-Iweala, Coordinating Minister for the Economy and Minister of Finance, Nigeria
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Republic of South Sudan, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia, Zimbabwe. PDF File Size: 244Kb
January 21, 2014 -- Press Release: Statement at the End of an IMF Staff Visit to Swaziland
October 12, 2013 -- IMFC Statement by the Honorable Pravin J. Gordhan, Minister of Finance for South Africa
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Republic of South Sudan, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia, Zimbabwe. PDF File Size: 94Kb
September 20, 2013 -- Cape Verde, Namibia, and Kingdom of Swaziland: Selected Issues Paper on the Challenges of Small Middle-Income Countries in Sub-Saharan Africa
Series: Country Report No. 13/292
April 20, 2013 -- IMFC Statement by Pravin J. Gordhan, Minister of Finance, National Treasury, South Africa
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Republic of South Sudan, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia, Zimbabwe. PDF File Size: 288Kb
April 08, 2013 -- Press Release: Additional Funding to Boost Capacity Development in Southern Africa by IMF Regional Technical Assistance Center
April 05, 2013 -- Press Release: Southern African Central Bank and Finance Ministry Officials Discuss Macroprudential Approaches to Supervision of Financial Systems in the Region
March 20, 2013 -- Mid-Term Evaluation Report on the Enhanced Data Dissemination Initiative Project
Subject: Statistics | Africa | National accounts | Monetary statistics | Government finance statistics | Balance of payments statistics | Data quality assessment framework | General Data Dissemination System | Special Data Dissemination Standard | Technical assistance
February 19, 2013 -- Kingdom of Swaziland: IMF Executive Board Concludes 2012 Article IV Consultation
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
February 01, 2013 -- Restoring Sustainability in a Changing Global Environment: Options for Swaziland
Author/Editor: Olivier Basdevant | Borislava Mircheva
Series: African Departmental Paper No. 13/1
January 31, 2013 -- Inward and Outward Spillovers in the SACU Area
Author/Editor: Canales Kriljenko, Jorge | Gwenhamo, Farayi | Thomas, Saji
Series: Working Paper No. 13/31
November 07, 2012 -- Press Release: IMF Concludes Staff Mission to Swaziland
October 13, 2012 -- IMFC Statement by Pravin J. Gordhan, Minister of Finance, South Africa
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia, Zimbabwe. PDF File Size: 600Kb
September 19, 2012 -- Press Release: Statement at the Conclusion of an IMF Mission to Swaziland
April 21, 2012 -- IMFC Statement by Pravin J. Gordhan, Minister of Finance, South Africa
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia, Zimbabwe. PDF File Size: 296Kb
February 10, 2012 -- IMF Survey: Customs Revenue, Fiscal Steps Can Power Swaziland Recovery
After a fiscal crisis in 2011, Swaziland can rally with structural reforms that will improve growth prospects. In its regular review of the country’s economy, the IMF says upfront fiscal measures, external financing, and higher customs revenue would enable the government to restore fiscal sustainability.
February 08, 2012 -- Kingdom of Swaziland : Staff Report for the 2011 Article IV Consultation.
Series: Country Report No. 12/37
February 07, 2012 -- Press Release: IMF Executive Board Completes 2011 Article IV Consultation with the Kingdom of Swaziland
February 01, 2012 -- Press Release: Statement at the Conclusion of an IMF Mission to Swaziland
December 23, 2011 -- Macroeconomic Vulnerabilities Stemming from the Global Economic Crisis: The Case of Swaziland
Author/Editor: Basdevant, Olivier | Baba, Chikako | Mircheva, Borislava
Series: African Departmental Paper No. 11/07
November 16, 2011 -- Press Release: Statement at the Conclusion of an IMF Article IV Mission to Swaziland
November 01, 2011 -- The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and Swaziland
Author/Editor: Basdevant, Olivier | Benicio, Dalmacio | Mircheva, Borislava | Mongardini, Joannes | Verdier, Geneviève | Yang, Susan | Zanna, Luis-Felipe
Series: Working Paper No. 11/266
September 30, 2011 -- Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with Swaziland
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
September 24, 2011 -- IMFC Statement by Ngozi Okonjo-Iweala, Coordinating Minister of the Economy and Minister of Finance, Federal Ministry of Finance, Nigeria
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia, Zimbabwe. PDF File Size: 168Kb
August 31, 2011 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to Swaziland
May 18, 2011 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to Swaziland
April 16, 2011 -- IMFC Statement by Teklewold Atnafu, Governor, National Bank of Ethiopia
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia, Zimbabwe. PDF File Size: 222Kb
April 14, 2011 -- Kingdom of Swaziland - Assessment Letter for Multilateral and Bilateral Donors
Subject: Assessment letters | Swaziland | Economic growth | Fiscal policy | Budget deficits | Stabilization measures | Staff-monitored programs | Economic indicators
April 08, 2011 -- Kingdom of Swaziland: Staff Monitored Program-Staff Report; Staff Supplement
Series: Country Report No. 11/84
April 08, 2011 -- IMF Survey: Swaziland Uses IMF Monitoring Program to Fight Fiscal Crisis
IMF management approves a Staff-Monitored Program for Swaziland to help the country enact tax reforms and at the same time protect social spending. The program entails IMF scrutiny of the authorities’ policies, but does not include formal backing of the program or financial support.
March 29, 2011 -- Kingdom of Swaziland -- Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, March 29, 2011
PDF File Size: 220Kb
March 01, 2011 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to Swaziland
January 24, 2011 -- 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
Series: Country Report No. 11/25
January 13, 2011 -- Public Information Notice: IMF Executive Board Concludes 2010 Article IV Consultation with Swaziland
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
January 01, 2011 -- In the Wake of the Global Economic Crisis: Adjusting to Lower Revenue of the Southern African Customs Union in Botswana, Lesotho, Namibia, and Swaziland
Author/Editor: Mongardini, Joannes | Benicio, Dalmacio | Fontaine, Thomson | Pastor, Gonzalo C. | Verdier, Geneviève
Series: African Departmental Paper No. 11/01
November 10, 2010 -- Press Release: Statement at the Conclusion of an IMF Mission to the Kingdom of Swaziland
April 24, 2010 -- IMFC Statement by Olusegun O. Aganga, Minister of Finance, Federal Ministry of Finance, Nigeria
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia, Zimbabwe. PDF File Size: 356Kb
December 02, 2009 -- Press Release: Statement at the Conclusion of an IMF Article IV Mission to Swaziland
July 16, 2009 -- Press Release: Statement by IMF Staff Mission to Swaziland
April 25, 2009 -- IMFC Statement by H.E. Tito Mboweni, Governor, South African Reserve Bank, South Africa
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia. PDF File Size: 337Kb
February 12, 2009 -- IMF Survey: IMF Advice Helps Fight Financial Fraud as Schemes Multiply
Better communications, more financial complexity, and multinational business operations have made it a lot easier to commit financial fraud, and the IMF is advising a growing number of member governments on ways to thwart fraudulent financial schemes.
November 03, 2008 -- The Kingdom of Swaziland: 2008 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director
Series: Country Report No. 08/356
October 30, 2008 -- Kingdom of Swaziland: Selected Issues and Statistical Appendix
Series: Country Report No. 08/355
October 27, 2008 -- Public Information Notice: IMF Executive Board Concludes 2008 Article IV Consultation with the Kingdom of Swaziland
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
October 11, 2008 -- IMFC Statement by Mr. Jean-Pierre Roth, Chairman of the Governing Board of the Swiss National Bank
On behalf of: Republic of Azerbaijan, Kyrgyz Republic, Republic of Poland, Republic of Serbia, Kingdom of Swaziland, Republic of Tajikistan, Turkmenistan, Republic of Uzbekistan. PDF File Size: 378Kb
October 11, 2008 -- IMFC Statement by the Honorable Tito Mboweni, Governor, South African Reserve Bank
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia. PDF File Size: 278Kb
August 31, 2008 -- IMF Survey:
Growth, inflation, subprime market crisis, technical assistance, Ghana, fiscal discipline, money laundering, social spending, wage bill ceilings, housing bust, Japan, Lipsky, Swaziland, foreign direct investment, news briefs. PDF File Size: 951Kb
August 07, 2008 -- Press Release: Statement by IMF Staff Mission to Swaziland
April 12, 2008 -- IMFC Statement by the Honourable Tito Mboweni, Governor, South African Reserve Bank
On behalf of: Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia. PDF File Size: 188Kb
March 21, 2008 -- Evaluation of the U.K. DFID-Financed Technical Assistance GDDS Project for Selected Anglophone African Countries (2001-06)
Subject: Andorra | Botswana | Eritrea | Ethiopia | Ghana | Kenya | Lesotho | Liberia | Malawi | Namibia | Nigeria | Sierra Leone | Sudan | Swaziland | Zambia | Zimbabwe | Technical assistance programs | General Data Dissemination System
March 03, 2008 -- The Kingdom of Swaziland: 2007 Article IV Consultation - Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director
Series: Country Report No. 08/85
March 03, 2008 -- Kingdom of Swaziland: Selected Issues and Statistical Appendix
Series: Country Report No. 08/86
February 19, 2008 -- Public Information Notice: IMF Executive Board Concludes 2007 Article IV Consultation with the Kingdom of Swaziland
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
November 27, 2007 -- In Support of Healthcare, Letter to the Editor by Wipada Soonthornsima,IMF Mission Chief for Swaziland
Mail & Guardian online
November 26, 2007 -- Press Release: Statement by IMF Staff Mission to Swaziland
October 20, 2007 -- IMFC Statement by Shamsuddeen Usman, Minister of Finance, Nigeria
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia. PDF File Size: 186Kb
March 28, 2007 -- The Kingdom of Swaziland: 2006 Article IV Consultation - Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director
Series: Country Report No. 07/132
March 13, 2007 -- Public Information Notice: IMF Executive Board Concludes 2006 Article IV Consultation with the Kingdom of Swaziland
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
November 28, 2006 -- Press Release: Statement by IMF Staff Mission to Swaziland
September 17, 2006 -- IMFC Statement by Hon. Nenadi E. Usman, Minister of Finance of Nigeria
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia, Zimbabwe. PDF File Size: 271Kb
June 26, 2006 -- IMF Survey:
IMF work program; de Rato in Australia, New Zealand; Improving the IEO; Swaziland, Philippines briefs; Inequality in Panama; Namibia: poverty and inequality; Gabon: post-oil era; Growth in Indian states; HIV/AIDS effect; China and India: emerging giants. PDF File Size: 677Kb
May 01, 2006 -- HIV/AIDS: The Impact on Poverty and Inequality
Author/Editor: Salinas, Gonzalo | Haacker, Markus
Series: Working Paper No. 06/126
March 13, 2006 -- The Kingdom of Swaziland: 2005 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director
Series: Country Report No. 06/106
March 13, 2006 -- The Kingdom of Swaziland: Statistical Appendix
Series: Country Report No. 06/109
February 24, 2006 -- Public Information Notice: IMF Executive Board Concludes 2005 Article& IV Consultation with Swaziland
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
December 01, 2004 -- Transcript of an IMF Book Forum, The Macroeconomics of HIV/AIDS
May 25, 2004 -- Public Information Notice: IMF Concludes 2003 Article IV Consultation with Swaziland
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
April 24, 2004 -- IMFC Statement by Mr. Tito Mboweni, Governor of the South African Reserve Bank
On behalf of: Angola, Burundi, Botswana, The State of Eritrea, The Federal Democratic Republic of Ethiopia, The Gambia, Kenya, Liberia, Lesotho, Republic of Mozambique, Malawi, Namibia, Nigeria, Sudan, Sierra Leone, Kingdom of Swaziland, Tanzania, Uganda, South Africa, Zambia, Zimbabwe. PDF File Size: 606Kb
October 08, 2003 -- Swaziland -- Preliminary Conclusions of the 2003 Article IV Consultation Mission
Describes the preliminary findings of IMF staff at the conclusion of certain missions (official staff visits, in most cases to member countries). Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, and as part of other staff reviews of economic developments.
September 21, 2003 -- Statement by Mr. Jose Pedro de Morais Junior Minister of Finance of Angola, Given on the Occasion of the International Monetary and Financial Committee (IMFC) Meeting, September 21, 2003
Representing Africa Group I Constituency comprising the following countries: Angola, Botswana, Burundi, Ethiopia, Eritrea, The Gambia, Kenya, Lesotho, Malawi, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe
January 31, 2003 -- Swaziland: 2002 Article IV Consultation --Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Swaziland
Series: Country Report No. 03/21
January 31, 2003 -- Swaziland: Selected Issues and Statistical Appendix
Series: Country Report No. 03/22
December 23, 2002 -- Public Information Notice: IMF Concludes 2002 Article IV Consultation with Swaziland
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
December 13, 2002 -- News Brief: IMF and World Bank Issue a Statement on the Food Situation in Southern and Eastern Africa
September 28, 2002 -- Statement by Mr. Julio Marcelino Bessa, Minister of Finance of Angola, Representing Africa Group I Constituency comprising the following countries: Angola, Botswana, Burundi, Ethiopia, Eritrea, The Gambia, Kenya, Lesotho, Liberia, Malawi, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe, IMFC Meeting of the IMF Board of Governors, September 27, 2002
The International Monetary and Financial Committee statement on behalf of the following countries: Angola, Botswana, Burundi, Ethiopia, Eritrea, The Gambia, Kenya, Lesotho, Liberia, Malawi, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe
April 01, 2002 -- Foreign Direct Investment in Africa--Some Case Studies
Author/Editor: Basu, Anupam | Srinivasan, Krishna
Series: Working Paper No. 02/61
April 01, 2002 -- Foreign Direct Investment in Africa--Some Case Studies
Author/Editor: Basu, Anupam | Srinivasan, Krishna
Series: Working Paper No. 02/61
February 01, 2002 -- The Economic Consequences of HIV/AIDS in Southern Africa
Author/Editor: Haacker, Markus
Series: Working Paper No. 02/38
February 01, 2002 -- The Economic Consequences of HIV/AIDS in Southern Africa
Author/Editor: Haacker, Markus
Series: Working Paper No. 02/38
November 17, 2001 -- Statement by Ms. Linah K. Mohohlo, Governor of the Bank of Botswana, at the International Monetary and Financial Committee, Ottawa, November 17, 2001
The International Monetary and Financial Committee statement on behalf of Angola, Botswana, Burundi, The Gambia, Kenya, Ethiopia, Eritrea, Lesotho, Liberia, Malawi, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe
October 01, 2001 -- Providing Health Care to HIV Patients in Southern Africa
Author/Editor: Haacker, Markus
Series: Policy Discussion Paper No. 01/3
October 01, 2001 -- Providing Health Care to HIV Patients in Southern Africa
Author/Editor: Haacker, Markus
Series: Policy Discussion Paper No. 01/3
November 06, 2000 -- IMF Survey:
The merits of monetary options in developed and emerging market countries; report on Group of 20 meeting in Montreal; joint China-IMF seminars on statistics; controlling HIV/AIDS epidemic in Swaziland; integrating the poor into the official legal system to unleash their economic potential; a new look at debt models and sovereign debt. PDF File Size: 471Kb
September 13, 2000 -- Public Information Notice: IMF Concludes Article IV Consultation with Swaziland
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies.
September 06, 2000 -- Swaziland: Selected Issues and Statistical Appendix
Series: IMF Staff Country Report No. 00/113
April 16, 2000 -- Statement by Mr. Trevor A. Manuel, Minister of South Africa, International Monetary and Financial Committee, April 16, 2000
The International Monetary and Financial Committee member for the constituency consisting of Angola, Botswana, Burundi, The Gambia, Kenya, Ethiopia, Eritrea, Lesotho, Liberia, Malawi, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe
September 29, 1999 -- Statement by the Hon. Tantely Andrianarivo, Governor of the IMF for Madagascar, on behalf of the African Governors, at the Joint Annual Discussion
PDF File Size: 14Kb
July 14, 1999 -- The Cross-Border Initiative in Eastern and Southern Africa
The Initiative comprises a common policy framework aims to facilitate cross-border economic activity by eliminating barriers to the flow of goods, services, labor, and capital, and to help integrate markets by coordinating reform programs in several key structural areas, supported by appropriate macroeconomic policies.
April 08, 1999 -- Swaziland - Statistical Appendix
Series: IMF Staff Country Report No. 99/13
March 08, 1999 -- Public Information Notice: IMF Concludes Article IV Consultation with Swaziland
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies.
September 24, 1997 -- Statement by the Hon. Themba N. Masuku, Governor of the IMF for Swaziland, at the Joint Annual Discussion.
PDF File Size: 36Kb
April 30, 1997 -- Swaziland-Recent Economic Developments
Series: IMF Staff Country Report No. 97/34
February 06, 1996 -- Swaziland - Statistical Annex
Series: IMF Staff Country Report No. 96/4
Notes: This statistical annex on Swaziland was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team and do not necessrily reflect the views of the Government of Swaziland, or the Executive Board of the IMF.

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