Loading...
See More

Swaziland too broke to pay salaries

May 11 2011 11:48 Sapa-Dpa

Related Articles

Swaziland the new Zim?

'Swaziland can't foot power bill'

IMF warns on Swaziland economy

Swazi police move to contain protests

New steps to curb corrupt civil servants

Civil servant strike toll unveiled

 
Johannesburg - Cash-strapped Swaziland will most likely be unable to pay civil servants their salaries, the finance minister was quoted as saying on Wednesday.

Majozi Sithole said the government might not find the funds for May salaries, and as yet has no solution for June, according to The Times of Swaziland.

The tiny country of 1.2 million people is run by an absolute monarch, whose lavish lifestyle often draws criticism.

Last month, the government cracked down on opposition protests, sparked in part by a freeze placed on public employees' salaries.

Swaziland is looking for loans worth up to $150m from the African Development Bank to inject urgently needed funds into its depleted coffers.

The International Monetary Fund has called for greater austerity in the country, in particular spending by the royals, and better accounting practices by the government. The fund has indicated the country would need financial support to meet its obligations.
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
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

Africa: Land of Billionaires!

Find out who are the richest of the richest in Africa!

 
 

Men24.com

Best bro movies 2014
Every man should be able to do these three things
Goalkeeper saves five penalties with his FACE!
Hottie of the day: Jesselyn

Money Clinic

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