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

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Journal Issue

Volume:: 11
Series:: Departmental Papers / Policy Papers
Author(s):: Olivier Basdevant, Chikako Baba, and Borislava Mircheva
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: December 2011
DOI:: http://dx.doi.org/10.5089/9781475510164.087
ISBN:: 9781475510164
ISSN:: 2616-5333
Page:: 37

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.

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