Kingdom of Swaziland : Staff Report for the 2011 Article IV Consultation.

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

Series:

IMF Staff Country Reports; Country Report ; No. 2012/037

IMF Staff Country Reports

Language:

English

Subjects (All):

International finance.

Swaziland--Economic conditions.

Swaziland.

Swaziland--Economic policy.

Physical Description:

1 online resource (40 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2012.

Language Note:

English

Summary:

The fiscal crisis in the Kingdom of Swaziland emanating from a decline in revenue from the Southern African Customs Union and one of the largest public wage bills in sub-Saharan Africa has reached a critical stage. Faced with revenue shortfalls associated with slowing economic activity, uncontrolled public spending, and lack of financing, the authorities continued to deplete central bank reserves and accumulate domestic arrears. The authorities have been able to finance only a minimal amount of expenditure, including wages, utilities, and essential transfers.

Contents:

""Cover""; ""CONTENTS""; ""RECENT ECONOMIC DEVELOPMENTS AND OUTLOOK""; ""A. The Fiscal Crisis Has Reached a Critical Stage""; ""B. Outlook and Risks: A Significant Contraction in 2012""; ""POLICY DISCUSSIONS""; ""A. Policy Theme 1: Restoring Fiscal Sustainability""; ""B. Policy Theme 2: Preserving External Stability and Improving Competitiveness""; ""C. Policy Theme 3: Addressing Emerging Pressures in the Financial Sector""; ""STAFF APPRAISAL""; ""TABLES""; ""1. Selected Economic Indicators, 2009�16, Projections (unchanged policies scenario)""

""2. Selected Economic Indicators, 2009�16, Projections (baseline scenario)""""3. Fiscal Operations of the Central Government, 2009/10�16/17""; ""4. Fiscal Operations of the Central Government, 2009/10�16/17""; ""5. Monetary Accounts, 2009�16""; ""6. Balance of Payments, 2009�16""; ""7. Financial Sector Indicators, 2005�10""; ""8. Millennium Development Goals, 1995�11""; ""FIGURES""; ""1. Recent Economic Developments""; ""2. Cross-Country Comparison""; ""3. Defense Spending""; ""4. Risks to the Outlook""; ""5. Medium-Term Outlook Under the Baseline Scenario""; ""BOXES""

""1. Performance Under the Staff-Monitored Program""""CONTENTS""; ""RELATIONS WITH THE FUND""; ""BANK-FUND JOINT MANAGEMENT ACTION PLAN""; ""STATISTICAL ISSUES""; ""SOCIAL AND DEMOGRAPHIC INDICATORS""; ""Table: Table of Common Indicators Required for Surveillance""

Notes:

Description based upon print version of record.

Includes bibliographical references.

Description based on print version record.

ISBN:

9781463954154

1463954158

9781463954147

146395414X