Fin24

Mswati pleads for Greek-style bailout

2011-09-14 18:30

Manzini - Swazi King Mswati III said on Wednesday that the International Monetary Fund (IMF) and the World Bank should come to his country’s rescue, as they have for troubled nations like Greece and Portugal.

“When they come to visit us, they do not come in the same spirit and that is a cause for concern,” he said at the opening of a two-day “dialogue” that the palace is promoting as a step out of its crippling financial crisis.

Labour unions that organised five days of anti-government protests last week are boycotting the meeting, and police blocked a small protest by civic and religious groups at the start of Mswati’s “Smart Partnership Dialogue".

They accuse Mswati, Africa’s last absolute monarch, of bankrupting the nation with his lavish lifestyle, including 13 wives who each has her own palace.

Mswati, who arrived at the meeting in a luxury car, admitted that his country’s economy was “not a good sight to see“.

The IMF has refused to grant loans to Swaziland until the government takes steps to rein in spending.

While the IMF has called for trimming the public wage bill, it has also urged the government to reduce its travel budget and focus more on health and education.

“We are given timelines that are difficult to meet,” Mswati complained of the recommendations.

“I am quite confused as to which advice to take. The IMF has its own advice, the ILO (International Labour Organisation) has its own advice and the UN has its own advice. This puts us in a predicament knowing the state of the economy,” he said.

Unable to access international loans, Mswati has won a $343m bailout from South Africa, but the money has yet to be released.

As a condition for the loan, Pretoria insisted that Mswati open a “national dialogue“, which the meeting Wednesday intended to address.

About 1 000 people attended the talks, including students, business leaders, academics and government officials. Representatives of organisations, such as unions, are not allowed unless they speak only as individuals.

Comments
  • errol.wagner - 2011-09-14 18:56

    Oh my does this man understand the difference??? Like Proverbs says, a fool should rather keep silent because the moment he speaks he betrays himself.

  • sipholess - 2011-09-14 18:56

    Sweti......What a cnut you are !!!!!

  • draadsitter - 2011-09-14 19:01

    sell one of you Maybachs, d00s

  • Neil Lazarus - 2011-09-14 19:06

    plus commission pelase ..

  • vinchainsaw - 2011-09-14 19:07

    Too damn funny

  • letsee - 2011-09-14 19:09

    Your country has to meet certain criteria to be bailed out. Demanding a commission from the loans is the opposite to the honest and desirable criteria. Sorry but you are obsolete.

  • Francois - 2011-09-14 19:13

    Wrong, do it again, wrong do it again. Mswati, you, even with your high education, make one critical mistake. Greece and Portugal are democracies where your kingdom is ruled by a person who when the circumsized him, threw away the wrong bit. Let freedom reign, let the people vote on who should govern them, give them some your money and sommer let them vote if they want to be part of SA.

  • WhiteAfrican - 2011-09-14 19:14

    Has Southern Africa lost its head. Does anyone actually know what this man is worth in his own right? Swaziland is at its knees because he doesnt understand the word austerity. Palaces, fancy vehicles, in a country being decimated by HIV, are not a reflection of power. Hardly surprising the SiSwati have had enough, poverty will drive people to extraordinary levels. Swaziland shouldnt be given a cent unless underwritten by the absolute monarch to service the interest from his own resources, as that's where most of this will end up in his own back pocket, feeding his need for good whiskey, cigars, expensive cars and more wives..........

  • Gore - 2011-09-14 19:18

    This guy (sorry King) is a classic delusions of grandeur candidate.

  • Lewis - 2011-09-14 19:18

    Greece and Portugal are not your third world banana republic you twat! King my a$$.

  • wynandjsmit - 2011-09-14 19:25

    I hope they see their ©*se very quickly!!! Idiots!

  • Harvey - 2011-09-14 19:26

    King Malema will make the same statement ten years from now.

  • Quixote - 2011-09-14 19:26

    Swaziland who?

  • Stefan du Plessis - 2011-09-14 19:30

    Pathetic! all th money will go in the kings pocket! ” he said at the opening of a two-day “dialogue” that the palace is promoting as a step out of its crippling financial crisis." It should read " HIS crippling financial crisis" Stop stealing the money from the country and you should be fine.. but that is too much to ask of any African leader.

  • Duncan - 2011-09-14 19:30

    Will he ask for commission for any loan offered by the IMF too?

  • Amsterdammer - 2011-09-14 19:31

    I can see Mswati... on his knees, bending over and SPREADING THEM!!!! EEEEUUUW!!! HAHAHAHAHAHAHA!!!!

  • burtfred - 2011-09-14 19:31

    A word of advise, your royal uselesness, stand down, let Swaziland have a free and fair election, (don't ask SA to help with this), and accept that your country doesn't actually like you anymore.

  • Windlass - 2011-09-14 19:32

    He is joking right?

  • wbs777 - 2011-09-14 19:33

    Is that sort of thing allowed over there? Sodomy is a schedule 1 offence....

  • LGH - 2011-09-14 19:36

    Not enough gravy?

  • Sam - 2011-09-14 19:37

    Are u European country\whit ? so...? who cares about some African

  • Styvie - 2011-09-14 19:39

    IMF is there for reason, like most other Nations in Africa tend to forget until they need a bailout, the 'KING' continues to deplete what resources the citizen has. It has been done time and time over again. What gets to me is this: once these countries have become soooooo independant from their mother rule, how many have gone on to shine and care for their citizens like the first world does? YES the Grants, what a great way to keep the ignorant even more ignorant. But hey, at the end of the day, the majority vote keeps the majority in power, even if the minority pays the way to keep them there.

  • Amsterdammer - 2011-09-14 19:40

    Me thinks the HEADLINE used, was NOT appropiate for this "BAILOUT"!!!! "GREEK STYLE"..... Wonder what comes to your mind when you read those two words??? ROFLMAO!!!!!

  • Dumisani Vilakati - 2011-09-14 19:41

    Mswati must understand that the loans given to Portugal and Greece have conditions attached to them as well. In fact since the economic difficulties of these countries took effect there has been change in their National Governments. The same has to happen in Swaziland. Those who brought the economy to its knees may not be trusted with taking it out of the doldrums.

  • Parko - 2011-09-14 19:47

    IMF, ignore this horny bastard....

      ARTHUR - 2011-09-15 08:05

      OK BUDDY LETS SWOP , LET US HAVE YOUR GOOD MORALS AND YOU CAN HAVE OUR ECONOMY AND DRUGS AND LAWLESSNESS AND AND AND AND AND....JULIUS MALEMA ...

      Nuck Choris - 2011-09-15 09:04

      No Arthur they can keep their morals, we just want them to have malema

  • StephanM - 2011-09-14 19:49

    unbelievable!

      Bayabonga - 2011-09-14 20:57

      Mpho & Mike you are stupid ignorant bums! Swaziland is a sovereign state and despite mistakes made we still have morals unlike your rotten country which has laws that allow the killing of innocent children, bestiality and drug use! Clean up you own house. Period!

      Nuck Choris - 2011-09-15 09:03

      High morals indeed. What is your incident rate for Aids again. People who Sleep around with multiple partners infecting all and sundry generally are considered to be of low morals

  • Mike or Mpho - 2011-09-14 19:54

    WAHHAHAHAHA! What a joke. Who cares about a country-want-to-be little pimple in Africa?

  • Johan - 2011-09-14 19:58

    If Mswati wants a bail out " Greek style " his sory ass is going to hurt big time !!!

      Parko - 2011-09-15 08:14

      Comment of the day

      Nkalakatha - 2011-09-15 10:51

      @Johan: HAhahaha my though as well !! Wonder if he know what he was saying !! Bumba$$ !!

  • The Wonderer - 2011-09-14 19:59

    Well, I won't be surprised when the ANC transfers the money to "king" Mswati, after all, they are the kings when it comes to wasteful expenditure to the tune of R10 BILLION and counting!

      The Wonderer - 2011-09-15 09:54

      UPDATE: Make that ANC's R40 BILLION wasteful expenditure! http://www.news24.com/SouthAfrica/Politics/Municipalities-wasted-R27bn-report-20110915

  • EarthBound - 2011-09-14 20:02

    Start by selling the 13 palaces and luxury vehicles from all wives and use those funds for much needed capital to save Swaziland's economy. South African government should use the bail out money in their own country. Swaziland is not going to repay the loan because they have no financial means to repay it.

  • TamaraSays - 2011-09-14 20:06

    Lol! After he took a R400 million 'commission' the last time. Chop!

  • Jasber - 2011-09-14 20:06

    Tell the lazy swine to go and get a job - South Africa have already given this parasite a huge cash sum - he has never done a days work in his life - he lives off hard working tax payers money - he needs to be given a pick and shovel and put into the fields. What an A hole.

  • JasunX - 2011-09-14 20:07

    WTF???? 343million of our tax money! F U @$$HOLES!!!

  • Johan - 2011-09-14 20:11

    Mswati's sorry ass is going to hurt if he has a bail out " greek style "

      Simple Simon - 2011-09-14 22:01

      lol

  • brinjal - 2011-09-14 20:13

    Greece & Portugal are democracies.

      flummoxed - 2011-09-14 20:58

      Plus they have their own economic problems - too many to worry about a so-called Monarch who lives high on the hog while his people are subjected to abject povery and disease. Naaice one!

      Fred - 2011-09-14 23:06

      The European countries don't have dictators ripping the country off and oppressing thier people. This is mainly an African thing with a few wannabees in the Middle East. This is why the IMF just laughs at Mswati's arrogance, and his country suffers through him.

  • flummoxed - 2011-09-14 20:52

    New project for 'Motor Mouth.' Leave Botswana alone and concentrate on Swaziland if you must interfere in another country's politics or maybe your Trust Fund could bail MsWati out!!

  • gatvol4corru - 2011-09-14 20:54

    F*kin dog! Why must the colonials feed the fat king?

  • Kevin - 2011-09-15 07:18

    He has stolen his countries money.We plead with the Swazi people to pull a Mubarak ,Gadaffi move before Mswati pulls an Assad move . GET RID OF THIS LEECH SWAZI people.

  • lamha vukawe - 2011-09-15 08:03

    Exachery! Let the king sell off some of his assets to aid his failing country. Swaziland is a country where if u plant a stick in the ground, it grows. Swaziland should be exporting foodstuffs...but wait 70% of the population are suffering from Aids ans cannot work. Sobhusa must be cringing in his grave!

      Nuck Choris - 2011-09-15 08:57

      Its the african way. Sit on your ass because you are king/leader and rape and pillage until there is nothing left. Then put your hand out as always. Sorry sight indeed, but history repeats..repeats..repeats..itself, especially in Africa. You would think after all these years, at least one African leader (well lets rather say person in charge)would have learnt something and tried a different path. Building is difficult, it takes effort. To break down is easy, and unfortunately in Africa they are experts at that.

      Colin - 2011-09-15 16:29

      You're absolutely right. Sobhuza II was actually Mswati's grandfather and a very wise and capable leader - he made just one mistake: choosing his successor. @Nuck Choris: may I submit Botswana? Take note S Africa, this is just one aspect of life we will experience under President/Emperor Malema. Be afraid, be very afraid.

  • Sisie - 2011-09-15 08:08

    Mswati - i really would hate to be the one to tell you this but you see Swaziland is not a member of the EU, so get with the program and instead of spending money like it's water and thinking you are a 1st World country give back the money you stole - the money sitting in the Swiss bank in your name, then maybe just maybe your country will have a chance of survival.

  • AndV - 2011-09-15 08:43

    Hahahaha, quite funny. Did he really attend school for a year? Pity about the innocent people.

  • Blackpride - 2011-09-15 09:06

    Give the money, don't give the money, makes no difference, a lot of the Swazi's already work here and repatriate a lot of the money back to Swaziland anyway. Once the country really goes bonkers more of them will be here feeding off of us.

  • Sean - 2011-09-15 10:54

    He can bail himself out - and this is only the official amounts - probably has millions more stashed... Mswati has been criticized for his lifestyle, especially by the media. Following criticism of his purchase of luxury cars, including a $500,000 luxury automobile, he banned the photography of his vehicles. According to the former CEO of the Office of the king, the purchases were personally funded and the king of Swaziland earns a high salary as Head of State, has investments within and outside the country and owns an unspecified amount of shares in different companies within Swaziland[citation needed]. According to the Forbes 2009 list of the World's Richest Royals, king Mswati is worth a reported $200 Million USD.[7] This does not include a sum of about $10 Billion USD that his father king Sobhuza II put in trust for the Swazi nation during his reign, in which Mswati III is the trustee. In January 2004 the Times of Swaziland reported that the king requested his government to spend about $15-million to redecorate three main palaces and build others for each of his 11 wives.[8] The Prime Minister's Office issued a press statement saying the article in the Times of Swaziland was "reckless and untrue" and that the proposal was for the construction of 5 State Houses, not Palaces, and the cost was only E19.9 million.[9] Later that year the go-ahead was given to build five new palaces at a cost of more than $4-million out of public funds.[10]

  • Thulani - 2011-09-15 13:27

    Where them Rebels, to kick out this guy

      revolution - 2011-09-15 15:38

      He is one of 210 sons.

  • TheManD.Sibusiso - 2011-09-15 21:24

    This man must step down period, and let the people gorvern themselves.

  • DirtySamurai - 2011-09-16 15:51

    “When they come to visit us, they do not come in the same spirit and that is a cause for concern" - Tha's because if they smile you might steal the fillings out of their teeth. Or maybe because they don't want European taxpayers to fund your personal party time... one of those.

  • fezela - 2011-11-09 16:26

    2008 Forbes magazine rated him just behind Queen Elizabeth of wealth. He is just a king of mere 1.1 million population.Now look King of the Zulu has about 25 million population but is not listed even amongs top 50 richest monarchs. Now our hard earned money is going to bail him and his cronies?

  • 100000524041324 - 2011-11-11 20:11

    Shed the wives, high end cars, multiple mini palaces,lavish living and accruing wealth for yourself. Cut the army, who are you fighting there except your people?

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