The country is in debt
Eswatini’s total debt stock stood at E23.2 billion at the end of May 2020.
This is an equivalent of 32.4 per cent of GDP.
This shows an increase of five per cent when compared to E22.1 billion recorded in April 2020. According to the Recent Economic Developments released by the Central Bank of Eswatini (CBE) the public external debt stands at E9.6 billion as at end of May 2020, an equivalent of 13.4 per cent to GDP, indicating an increase of three per cent when compared to E9.3 billion recorded in April 2020.
“While no payments and disbarments were recorded over the month, the increase is due to the weakening of the Lilangeni against major currencies in which the country’s foreign liabilities are denominated. Outstanding public domestic debt stood at E 13.6 billion at the end of May 2020, an equivalent of 19.0 per cent to GDP.
“This shows an increase of 6.3 per cent from E12.8 billion recorded in April 2020.
View pictures in App save up to 80% data. The increase is due to an additional advance of E550 million extended to government during the month of May 2020,” it stated. During the month of May 2020, the Central Bank, on behalf of government re-opened three bonds and issued one new bond.
In total, an amount of E150 million was on offer where E151.9 million was received in bids and E24.5 million was allotted.