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Swaziland’s government has failed to make any headway in its attempt to steer the kingdom away from bankruptcy.
Despite a year of statements from the government, handpicked by King Mswati III, sub-Saharan Africa’s last absolute monarch, that things are getting better, evidence released this week shows the opposite is the case, writes the Swazi Observer Thursday..
The International Monetary Fund (IMF – Valutafonden) has been in Swaziland over the past few days to meet with top politicians and completed its mission Wednesday (1 February 2012). In a statement the IMF concluded that the Swazi economy continued to be out of control.
The Swazi Government had announced before Christmas that it would be receiving a ‘windfall’ of about 7 billion elangeni (den lokale møntfod) from the Southern Africa Customs Union (SACU).
It led people to believe that this money would be available to pay public servant salaries for the coming months. Before Christmas the government struggled to meet the December wage bill in this tiny country bordering South Africa and Mozambique.
But the IMF has told the government the best use of the SACU money is to pay off some of its debts – especially to the Swaziland central Bank.
The IMF also said the government should immediately cut the wages bill by at least 300 million elangeni (one percent of GDP). An early retirement scheme would help to make this cuts, it said.
“In order to repay domestic arrears and advances from the central bank, the 2012/13 budget should aim at an overall surplus of 919 million elangeni (3,1 percent of GDP)”, the IMF said, noting:
“In addition to adjusting the size of the budget, the quality of spending should be improved, with more resources allocated to education, the fight against HIV/AIDS, and social protection for orphaned and vulnerable children and the elderly”.
Meanwhile, the government is under pressure to spend. The University of Swaziland has not opened this semester, saying it has not received money from the government to cover administration and salary costs. It is estimated it needs 22 million elangeni a month.
Students have been protesting this past week because they have not been paid their allowances and there are reports that schools may close as fees have not been paid by the government.
Kilde: Swaziland Newsletter 3 February 2012
News from and about Swaziland, compiled by Africa Contact (Denmark) in collaboration with Swazi Media Commentary (www.swazimedia.blogspot.com), and sent to all with an interest in Swaziland – free of charge.
