Swaziland: Meltdown 'imminent'

The International Monetary Fund has warned that Swaziland's fiscal crisis has reached a critical point and there is a high risk that the kingdom will be unable to pay its civil servants' wages for the next few months. The report also says that Swaziland's gross domestic product (GDP) will contract by 2 per cent during 2012 and, if the country does not change its 'unsustainable' fiscal policy, its debt-to-GDP ratio could reach more than 80 per cent by 2016.