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/ 20 January 2012
Swazi unions plan to strike over impending salary cuts and government’s resistance to democratic reforms.
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/ 18 November 2011
Swaziland’s economic woes are intensifying as it struggles to meet its civil servant payroll, forcing it to borrow money from its central bank.
Swaziland’s economy could collapse within six months if drastic steps are not taken to reduce the country’s enormous wage bill and spiralling deficit.
Swaziland’s King Mswati III will fund a bailout of his government in a manoeuvre to acquire control of the local firms at knock-down prices.
The IMF says Swaziland’s economic growth will grind to near zero this year as the government’s fiscal crisis rocks banks and private businesses.
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/ 16 September 2011
Despite their campaign against Mswati’s despotic rule, Cosatu affiliates have been found to be involved in business deals with the Swazi king.
A key beneficiary of the SA loan is rumoured to be co-owned by Swazi royal interests
Cash-strapped Swaziland plans to spend nearly half of its R2.4-billion loan from South Africa on capital-investment projects.
President Jacob Zuma has defended the R2.4-billion loan government has granted Swaziland, saying one shouldn’t let one’s neighbour collapse.
Swaziland’s government will go ahead with planned salary cuts of civil servants despite receiving a $355-million bailout loan from South Africa.