Fin24

Cosatu: Swazi loan will never be repaid

2011-09-09 13:12

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."

Comments
  • BadBoy79 - 2011-09-09 13:57

    Who ever thought I would agree with Cosatu... lol. I agree, the government is throwing away money that can be used for upgrading road infrastructure, hospitals, housing, food, docters etc... Instead of using the money for what we need in the country, they put a bigger burden on their own citizens.

      Craigr - 2011-09-09 22:45

      JZ783 is just buying friend's. Not everyone can say they have a King that has got your back.

      Winsome - 2011-09-14 19:02

      Do you really think in all honesty that they would use that money for "upgrading road infrastructure, hospitals, houseing, food etc etc" in our dreams, indeed!!

  • stephen scott - 2011-09-09 14:00

    Dictatorship allowance

  • stephen scott - 2011-09-09 14:10

    Dictatorship allowance

  • mnbain - 2011-09-09 14:13

    Man this idea was just so brilliant...

  • jjhvan - 2011-09-09 14:24

    Must be apartheid's fault. Shame, just shows what happens when they are left to care for themselves.

      DoublySalmon - 2011-09-10 11:10

      If not for Apartheid, the NP and minority South Africa would be just another failed state like Swaziland, though South Africa is heading in that direction and by some measures already is a failed state.

  • Verdade - 2011-09-09 18:15

    You know the irony regarding this is that there's nothing we can do, us as honest taxpayers will just contribute to these monarchs.... Because our brain dead shower head shrek decided to assist the King... no ways will this money go to the right or needy places. Never will a cent be returned to SA. Yes, I do agree with Cosatu, but why make a fuzz now after the loan was granted/done?

      Craigr - 2011-09-09 22:42

      The vast majority of us said this was a crap idea and we would never see a red cent. But hey, what do we know. We just the tax payers...

  • Organist-1 - 2011-09-10 10:33

    Loans are NOT loans made to defunkt states. They are "GIFTS". The word "Loan" is only used to appease the uninformed. I said 6 weeks ago that this was to be a "gift" and not a "Loan". Maybe Gordham had 2nd thoughts when he heard that the King wanted a 6figure "commision" for negotiating it ?????? What a corrupt and sick workd we live in. From SACA to IOC to all governments around the world. The LOVE of money is the root of all evil. It is now said thiat this money would be solely used for construction purposes and infrastructure. Are they building a new palace for the Swazi king?

  • leon.m.delport - 2013-01-09 11:09

    I agree, the loan will not be repaid. Why spent SA tax payers money and give it to a useless country in the first place. Rather take this loan and pay it back to the goverment spending on the E-toll system and make traveling cheaper in SA. Swaziland means nothing to SA tax payer. The money will be used for parties and buying their useless kings new Maybach cars. So....screw them because they do not contribute to our country.

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