Departmental Papers

Macroeconomic Vulnerabilities Stemming from the Global Economic Crisis: The Case of Swaziland

Author/Editor:

Olivier Basdevant ; Chikako Baba ; Miss Borislava Mircheva

Publication Date:

December 23, 2011

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

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.

Series:

Departmental Paper No. 2011/008

Subject:

Banking Central banks Commercial banks Currencies External debt Financial institutions International reserves Money Public debt