Monday, 28 March 2011

Swaziland - latest moves

Cabinet members in Swaziland have agreed to a 10% wage cut and a freeze on wage increases for three years. This will save the country roughly R24 000 (US$ 3000). This won't come close to addressing the gaps in financing that have resulted in pensions being suspended. There were civil society marches last week in the capital against the financial austerity measures. Southern African commentators have been quick to point out that this is not another Libya/Egypt situation. They're probably right. Swaziland's problems (at least in terms of this particular situation) are recession-related and primarily financial. Civil society is objecting to financial austerity measures imposed because the economy suffered massively during the recession. If they were in Europe, the talk would be about EU bail-out packages. Still no word - that I could find - from SACU or SADC on what they're going to do about this crisis in member country Swaziland.

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