Kingdom of Swaziland : Staff Report for the 2011 Article IV Consultation.

Publication Date: February 08, 2012
Electronic Access: Free Full text (PDF file size is 786KB).
Use the free Adobe Acrobat Reader to view this PDF file

Summary: The fiscal crisis in the Kingdom of Swaziland emanating from a decline in revenue from the Southern African Customs Union and one of the largest public wage bills in sub-Saharan Africa has reached a critical stage. Faced with revenue shortfalls associated with slowing economic activity, uncontrolled public spending, and lack of financing, the authorities continued to deplete central bank reserves and accumulate domestic arrears. The authorities have been able to finance only a minimal amount of expenditure, including wages, utilities, and essential transfers.
Series: Country Report No. 12/37
Subject(s): Article IV consultation reports | Bank supervision | Budget deficits | Economic indicators | Financial sector | Staff Reports | Staff-monitored programs | Wage adjustments

Publication Date: February 08, 2012
ISBN/ISSN: 9781463940386/1934-7685 Format: Paper
Stock No: 1SWZEA2012001 Pages: 39
US$18.00 (Academic Rate:
US$18.00 )
Please address any questions about this title to