lacking transparency

eSwatini: Mystery of Taiwan ‘loan’ deepens fear over kingdom’s finances

By Ray Mwareya

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Posted on April 6, 2023 15:32

© eSwatini’s King Mswati is met by Taiwan’s President Tsai Ing-wen on 21 October 2022.
(photo: @iingwen) — eSwatini’s King Mswati is met by Taiwan’s President Tsai Ing-wen on 21 October 2022. (photo: @iingwen)

eSwatini has denied that it pledged its public assets as collateral for a loan from Taiwan, but that has only deepened fears about the kingdom’s finances.

A report carried out in the local Swazi Observer newspaper last week said eSwatini has taken major loans from Taiwan to build an international conference centre and a luxurious hotel.

In return, the kingdom allegedly pledged its public assets as collateral should it default on repayment. eSwatini’s Minister of Finance, Thambo Gina, denied the report and said the kingdom’s laws do not allow public assets to be given up as collateral for loans.

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