Macroeconomic Vulnerabilities Stemming from the Global Economic Crisis: The Case of Swaziland
December 23, 2011
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Swaziland has faced a significant fiscal crisis since 2010, in the wake of loss of transfers from the Southern African Customs Union (SACU). The fiscal crisis has led to increasing vulnerabilities, not only of public finances but also on commercial banks and the private sector. This paper provides an analysis of Swaziland's main macroeconomic vulnerabilities and the main policy implications of the analysis.
Subject: Banking, Central banks, Commercial banks, Currencies, External debt, Financial institutions, International reserves, Money, Public debt
Keywords: Africa, Commercial banks, Currencies, currency, debt, debt stock, deficit, deficit norm, DP, DPPP, equilibrium current account deficit norm, GDP, GDP deflator, Global, International reserves, long-term debt, macroeconomic vulnerability, open economy, Southern Africa, Sub-Saharan Africa, Swaziland
Pages:
37
Volume:
2011
DOI:
Issue:
008
Series:
Departmental Paper No. 2011/008
Stock No:
MVSGEEA
ISBN:
9781475510164
ISSN:
2616-5333
