Inkosi Mswati III of Swaziland. Photograph: Bongiwe Mchunu.
Inkosi Mswati III of Swaziland. Photograph: Bongiwe Mchunu.

‘SA lends Swaziland $355 mln’

By Time of article published Aug 3, 2011

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South Africa has agreed to a 2.4 billion rand ($355 million) bailout for Swaziland to help the impoverished southern African nation through a chronic cash crisis, the Times of Swaziland said on Wednesday.

The paper cited King Mswati III, Africa's last absolute monarch, as saying it was “very fortunate” that South Africa had come to Swaziland's aid after international lenders such as the International Monetary Fund had withheld support.

“We are thankful and also appreciate the assistance we have received from South Africa. This shows that they are good neighbours,” Mswati was quoted as saying.

“I would like to thank President Zuma, his government and the entire South African nation for the assistance. We hope that the financial assistance we have received will assist in alleviating the country from the fiscal problems.”

South African officials were not immediately able to confirm the report.

Swazi officials have been negotiating with Pretoria for some time, although Swazi dissidents have been urging South Africa not to grant any aid in the hope that an extended government cash crunch might force Mswati into political reform. - Reuters

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