Sunday, 20 November 2011

Mystery deal for Swaziland

After announcing that government salaries would be delayed (and possibly not paid) in November, Swaziland has now said that it has secured sufficient loans to keep the country afloat. It is unclear where these loans have come from but some commentators are concerned that the King is funding the bail-out and that this will ultimately increase his power in the country. On the one hand, it seems reasonable that the King's fortune should be used to keep the country going but in the form of loans that leave the country indebted to the monarchy, maybe less of a positive development.

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