Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

September 11, 2017

Electronic Access:

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Summary:

Swaziland has experienced a period of macroeconomic stability, but faces formidable policy challenges and structural issues. A drought and a sharp decline in SACU revenue have hit the economy, and an expansionary fiscal policy has worsened fiscal and external imbalances. Public debt is rising, domestic arrears accumulating, and reserve coverage is below adequate levels. Banks are well capitalized, but links between government and financial institutions pose macro-financial risks. Structural impediments have limited growth and contributed to keep poverty and inequality too high.

Series:

Country Report No. 17/274