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Cape Town - South Africa's R2.5bn advance to Swaziland is not a loan from the fiscus, but a guarantee backed by their own Southern African Customs Union payments, cabinet spokesperson Jimmy Manyi said on Thursday.
The tranches to Swaziland would be paid based on its successful performance in four areas, he told a media briefing following cabinet's regular fortnightly meeting on Wednesday.
The four areas are confidence-building measures to be undertaken by the Swazi government, fiscal and related technical reforms required by the International Monetary Fund and to be implemented by the Swazi government, capacity-building support to be provided by South Africa, and cooperation in multilateral agreements.
The tranches to Swaziland would be paid based on its successful performance in four areas, he told a media briefing following cabinet's regular fortnightly meeting on Wednesday.
The four areas are confidence-building measures to be undertaken by the Swazi government, fiscal and related technical reforms required by the International Monetary Fund and to be implemented by the Swazi government, capacity-building support to be provided by South Africa, and cooperation in multilateral agreements.
