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

Author: Olivier Basdevant, Chikako Baba, and Miss Borislava Mircheva

This paper provides an analysis of Swaziland's main macroeconomic vulnerabilities and the main policy implications of the analysis.

Volume/Issue: Volume 2011 Issue 008

Publication date: December 2011

ISBN: 9781475510164

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , DPPP , DP , debt , GDP , Swaziland , currency , deficit , open economy , GDP deflator , debt stock , long-term debt , equilibrium current account deficit norm , macroeconomic vulnerability , deficit norm , Currencies , International reserves , Commercial banks , Africa , Southern Africa , Global , Sub-Saharan Africa

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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.