Swaziland Seeking Bailout from South Africa

Swaziland

Swaziland credits to be the third largest sugar producer in Africa. The Director General of South Africa’s International Relations Department, Jerry Matjila, has anticipated that the National Treasury of South Africa is about to make a decision on a request for financial aid for Swaziland, which is on the verge of running out of cash to pay state employees.

Swaziland has lost a third of its revenue during the last year. The deviations were believed to have an influence from a regional customs union that includes South Africa, declined under the spell of global economic recession.

The statistics from the 2011 Africa Economic Outlook, co-written by the African Development Bank, suggests that the economic growth in Swaziland is anticipated to slow its pace around 1.9%, whereas the inflation may rise to 7.7% from 4.5%.

“Swaziland must be given a clean slate from which to begin, both politically and economically. The country’s citizens could not ask for more than that. The world should allow King’s Mswati’s reign to prove to be the dead end that it is so that a new political dispensation can emerge from its ashes”, commented a Spokesman for the Joburg-based opposition group, Lucky Lukhele.

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