• Dangerous games

    Employers' body Neasa is playing a potentially dangerous game, says Terry Bell.

  • Rational thinking

    All players should first consider the net result of their actions, says Leopold Scholtz.

  • Telkom's property poser

    BEE may be hindering Telkom's plans to offload redundant real estate, says Gugu Lourie.

Data provided by iNet BFA
Loading...
See More

Cosatu: Swazi loan will never be repaid

Sep 09 2011 13:12

Related Articles

SA loan to Swaziland delayed

Swaziland fiscal crisis deepening - IMF

Swazi foul play in MTN deal - report

SA to act if Swaziland defaults on loan

IMF sizes up Swazi finances

Vavi: Swazi loan a mistake

 

Johannesburg - Swaziland will never repay South Africa its R2.4bn loan, despite claims it will come from future revenues, Cosatu said on Friday.

"It (the loan) provides breathing space for the regime," the trade union federation's deputy president Zingiswa Losi told journalists in Johannesburg.

"It does not address the need for democratisation in any serious manner."

Losi said Swaziland already owed the International Monetary Fund and the World Bank R70bn.

Cosatu called on the South African government to rethink the bailout and disassociate itself from the Swazi regime.

"We did not meet a single person in Swaziland who said that the bailout was welcomed," Losi said.

"On the contrary, everyone we met, both inside and outside of the democracy movement, said that the bailout will actually make matters worse."

Losi and Cosatu's deputy international secretary Zanele Matebula were arrested in the southern Swazi town of Siteki on Thursday when they tried to address a crowd during a pro-democracy march.

They were deported back to South Africa. Police fired teargas and rubber bullets to break up the protest.

Losi said during the deportation she and her colleagues had to give the Swazi police all their details, including residential addresses.

"They said they will check up on us and follow us to make sure we didn't lie. We are fearing... we don't know about security at home. We have told the people of Swaziland we will be back."

swaziland  |  cosatu  |  loan  |  bailout
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
12 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

No need to keep up with the Joneses

Fin24 users provide their own personal tips on how to save money instead of trying to keep up with the Joneses.

 
 

Start saving...

Where can you stash your cash?
Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...