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Washington - Swaziland's economy faces increasing risks that include sharply higher inflation, and the tiny southern African country should make more effort to confront these challenges, the IMF said on Thursday.
"With prospects of continued high fuel and food prices, inflation is expected to rise to 12.9% in 2008 from 8% in 2007," the International Monetary Fund said in a regular review of Swaziland's economy.
The IMF forecast growth to dip under 3% this year from 3-½% in 2007, but urged Swazi authorities to tighten monetary policy to counter price pressures.
It also said Swaziland should try harder to deliver on its IMF Poverty Reduction Strategy and Action Programme, and improve capacity to take advantage of international aid available through the Global Fund, a private/public partnership created to fight HIV/AIDS, tuberculosis and malaria.
- Reuters