IMF looking to see reforms in Swaziland before opening loan facility

Global loan shark financial adviser the International Monetary Fund is in Swaziland for a two week visit.

The visit is to assess whether the country will be allegeable to receive any more loans from the body.

The financial body wants the country to take drastic measures to transform its economy by cutting down government spending and chopping its large 7000 civil servant workforce.

If the country does meet these criteria it will see more than 3 500 people lose their jobs all together, while about 2 500 jobs are expected to be transferred to the private sector.

Swaziland’s economy just secured a R2.5 billion loan from South Africa, which we still unsure how it will pay back.

If the IMF leaves unhappy, it will close down Swaziland’s chances of getting loans from the World Bank and African Development Bank.

I really don’t know if Swaziland’s economy can really handle any more loans, especially if it cannot guarantee that the money will just be used to fund the Kinds lavish lifestyle.

Advertisements