International Monetary Fund (IMF) Executive Board Concludes 2023 Article IV Consultation with Kingdom of Eswatini

The near-term outlook is buoyed by continued recovery and a surge in SACU revenue transfers, but downside risks remain

On May 3rd, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with the Kingdom of Eswatini. Eswatini has shown resilience to multiple economic shocks. Real GDP contracted by a comparatively modest 1.6 percent in 2020 but surged by 7.9 percent in 2021 as…

International Monetary Fund (IMF) Staff Completes 2023 Article IV Mission to Eswatini

Real GDP growth in 2023 is projected to rise to 3.2 percent supported by agricultural production and manufacturing, and higher government capital spending

An International Monetary Fund (IMF) team, led by Mr. Todd Schneider, Mission Chief for Eswatini, visited Mbabane during February 27 to March 10, 2023, to conduct discussions for the 2023 Article IV Consultation with a broad range of counterparts from the public and private sector. The discussions covered the performance…

Coronavirus - Eswatini: IMF Executive Board Approves US$110.4 Million in Emergency Support to The Kingdom of Eswatini to Address The COVID-19 Pandemic

The immediate priority is to support public health, vulnerable groups and businesses

The COVID-19 pandemic has magnified Eswatini’s existing economic and social challenges, leading to a sharp decline in growth and large financing needs; The IMF approved US$110.4 million in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19…

IMF Executive Board Concludes 2017 Article IV Consultation with the Kingdom of Swaziland

On September 1, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with the Kingdom of Swaziland. Since the 2010 fiscal crisis, Swaziland has experienced a period of macroeconomic stability and recovery. A rebound in South African Customs Union (SACU) revenues, expansionary policies…

IMF Staff Completes 2017 Article IV Visit to Swaziland

Swaziland’s key challenge going forward is to preserve macroeconomic stability against low SACU revenue and sustain growth to make inroads in reducing high unemployment and income inequality

The IMF estimates 2016 growth to stagnate, with a muted recovery envisaged in 2017, as the weaker fiscal position weighs heavily on the outlook. Significant fiscal adjustment is needed to ensure macroeconomic stability and debt sustainability. Structural reforms to address the lack of skilled workers, simplify business regulations, and strengthen…

IMF Staff Concludes Visit to Swaziland

The drought is projected to weigh heavily on 2016 growth and inflation

An International Monetary Fund (IMF) team, led by Mr. Geremia Palomba, IMF Mission Chief for Swaziland, visited Mbabane during December 5-12, 2016 to review recent developments, and discuss with the authorities the economic outlook and policy challenges going forward. At the end of the visit, Mr. Palomba issued the following…

AFRITAC South Holds Seminar on Strengthening Supervisory Approaches to AML/CFT

During May 16-20, 2016, the International Monetary Fund’s Regional Technical Assistance Center for Southern Africa (AFRITAC South) held a seminar at the premises of the IMF’s Africa Training Institute in Mauritius on Risk-Based Approaches to Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) Supervision. The event brought together…

IMF’s Regional Technical Assistance Center for Southern Africa Supports Strengthening Risk Based Supervision

On February 22–26, the International Monetary Fund’s (IMF) Regional Technical Assistance Center in Southern Africa (AFRITAC South) held a regional seminar at the Africa Training Institute in Mauritius on improving compliance with Risk Based Supervision (RBS) and Pillar 2 of Basel II. The event brought together senior and mid-level officials…

The IMF’s Regional Technical Assistance Center South Supports Strengthening Coordinated Border Management

On February 15–19, 2016, AFRITAC South held a seminar at the Africa Training Institute in Mauritius on improving compliance of indirect taxes and coordinated border management (CBM). The event brought together senior customs officials from revenue administrations from Angola, Comoros, Lesotho, Madagascar, Mauritius, Namibia, Seychelles, South Africa, Swaziland, Zambia and…

Conference on Small Middle-Income Countries in Sub-Saharan Africa: Joint Statement by Deputy Managing Director Min Zhu and Governor Linah Mohohlo of the Bank of Botswana

The Governor of the Bank of Botswana, Ms. Linah Mohohlo, and the Deputy Managing Director of the International Monetary Fund, Mr. Min Zhu, hosted today in Gaborone, Botswana, a regional conference entitled “Small Middle-Income Countries in Sub-Saharan Africa—Raising the Bar” [1]. Delegates included senior officials from a number of countries…