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IMF Country Report No. 22/356
KINGDOM OF ESWATINI
TECHNICAL ASSISTANCE REPORT ON GOVERNMENT FINANCE STATISTICS MISSION (JULY 6–12, 2022)
December 2022
This report on the Kingdom of Eswatini was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed in July 2022.
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Title page
KINGDOM OF ESWATINI
NOVEMBER 2022
REPORT ON GOVERNMENT FINANCE STATISTICS AND PUBLIC SECTOR DEBT STATISTICS TECHNICAL ASSISTANCE MISSION (JULY 6–12, 2022)
Prepared by Djaima Da Costa Morais
The contents of this report constitute technical advice provided by the staff of the International Monetary Fund (IMF) to the authorities of The Kingdom of Eswatini (the “TA recipient”) in response to their request for technical assistance. This report (in whole or in part) or summaries thereof may be disclosed by the IMF to IMF Executive Directors and members of their staff, as well as to other agencies or instrumentalities of the TA recipient, and upon their request, to World Bank staff, and other technical assistance providers and donors with legitimate interest, unless the TA recipient specifically objects to such disclosure (see Operational Guidance for the Dissemination of Capacity Development Information). Publication or Disclosure of this report (in whole or in part) or summaries thereof to parties outside the IMF other than agencies or instrumentalities of the TA recipient, World Bank staff, other technical assistance providers and donors with legitimate interest, shall require the explicit consent of the TA recipient and the IMF’s Statistics Department.
Contents
Glossary
SUMMARY OF MISSIONS OUTCOMES AND PRIORITY RECOMMENDATIONS
DETAILED TECHNICAL ASSESSMENT AND RECOMMENDATIONS
A. Progress Since the Last Mission and Revised Action Plan
B. Coordination Of GFS And PSDS Compilation Process
C. Institutional Coverage - The Public Sector
D. Source Data
E. GFS Compilation and Dissemination
F. PSDS Compilation and Dissemination
FIGURE
1. Public Sector in the Kingdom of Eswatini
TABLES
1. Priority Recommendations
2. Action Plan for Implementing GFSM 2014 and PSDSG 2011
3. Data Sources for GFS and PSDS Compilation Process
4. BCG – Statement of Operations on cash Basis
5. BCG – Cash flows from Operating Activities vs. MTFF
6. BCG – COFOG Sum of FY 2018 - 2021
7. BCG – Finance Balance Sheet
8. BCG Gross debt – Face Value
9. Integrated Balance – Annual Gross debt (Face Value)
APPENDICES
I. Name of Officials
II. Technical Assistance Mission Agenda
III. Priority Action / Milestone from Previous TA Mission
IV. Public Sector Institutional Table
V. Category A Public Enterprises
VI. Statement of Assets and Liabilities
Glossary
| AFR | African Department of the IMF |
| BCG | Budgetary Central Government |
| BEAD | Budget and Economic Affairs Department |
| COFOG | Classification of the Functions of Government |
| CSO | Eswatini Central Statistics Office |
| CSM | Commonwealth Secretariat Meridian system |
| DMU | Debt Management Unit, MOF |
| EBU | Extrabudgetary Units |
| ECB | Eswatini Central Bank |
| ERS | Eswatini Revenue Services |
| FMA | Fiscal and Monetary Affairs |
| FY | Fiscal year |
| GFSM 2014 | Government Finance Statistics Manual 2014 |
| GDP | Gross Domestic Product |
| GG | General Government |
| GoE | Government of the Kingdom of Eswatini |
| IMF | International Monetary Fund |
| IPSAS | International Public-Sector Accounting Standards |
| LG | Local Government |
| MEPD | Ministry of Economic Planning and Development |
| MHUD | Ministry of Housing and Urban Development |
| MLSS | Ministry of Labour and Social Security |
| MOF | Ministry of Finance, Kingdom of Eswatini |
| MTFF | Medium-Term Fiscal Framework |
| NPI | Non-profit institutions serving households |
| PEU | Public Enterprise Unit |
| PSIT | Public Sector Institution Table |
| PSDS | Public Sector Debt Statistics |
| PSDSG 2011 | Public Sector Debt Statistics—A Guide for Compilers and Users 2011 |
| OEF | Other Economic Flows |
| SOE | State Owned Enterprises |
| SSF | Social Security Funds |
| STA | Statistics Department of the IMF |
| SZL | Swaziland Emalangeni |
| 2008 SNA | System of National Accounts 2008 |
| TA | Technical Assistance |
| TWG | Technical Working Group |
