Thursday, 18 August 2011

Why Africa's Proudest Democracy Bailed Out Africa's Last Absolute Monarch

http://www.time.com/time/world/article/0,8599,2088966,00.html
January's warning of an imminent economic meltdown in the tiny, landlocked kingdom of Swaziland set off alarm bells in its giant neighbor, South Africa. The International Monetary Fund (IMF) warned that the country of 1.5 million (the population of Phoenix) ruled by the continent's last absolute monarch, King Mswati III, was in "a fiscal crisis which threatens external stability and the soundness of the financial sector."

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