By Khanyisa Tabata
03 August 2011
The Reserve Bank’s decision to award Swaziland a loan of two point four billion rand is aimed at alleviating a crippling fiscal crisis in Africa’s last absolute monarchy, according to Finance Minister Pravin Gordhan.
Addressing a news conference at the National Treasury in Pretoria, he said the government has agreed to provide guarantees for the loan, which will be handed to the Central Bank of Swaziland with repayment plan duration of five years.
Meanwhile the Swaziland Solidarity Network called the decision to loan Swaziland's government the money to Swaziland to the Swazi people.
The Swaziland Democratic Campaign said it wa s devastated by the South African government's decision.
The campaign’s Mary de Silva said the king is only going to abuse the loan.
Subscribe to:
Post Comments (Atom)
Western Cape welcomes Christmas Day babies
The Western Cape has welcomed, as of 11:30, about 18 Christmas Day babies at its public health facilities. Of these, 10 were girls. In a ...
-
A man suspected of killing and raping a number of members of the farm worker community in Philippi on the Cape Flats appears in a Cape Town ...
-
''Human behaviour is the main cause of wildfires.'' These remarks were made by the Western Cape’s Local Government, Environm...
No comments:
Post a Comment