YCLSA CONDEMNS SWAZILAND LOAN

Young Communists League of South Africa

Statement

4 August 2011

SOURCE

The YCL condemns the granting of loan to the Swaziland Monarchy by SA Government

As the Young Communist League of South Africa [Ufasimba] we are very disheartened by the move to grant the Swazi dictator R2.4 billion by the South African government through the Central Bank. This move was done in spite of all calls and lobbying to the South African government form internal and abroad activists and political organizations.

The current state of affairs in Swaziland is one that is characterized by serious lack of good governance and all accepted norms for a democratic state. Yet in spite of all the warnings the South African Central Bank neglected all pre-requirements not to make the payment as it usually does locally by setting macro-economic targets that are not worker friendly and detrimental to the poorest of the poor and largely outside of South Africa’s development needs.

This is the same developmental agenda by the Central bank and National Treasury that serves and promotes the rich, the exploiters, the owners of the means of production and a slap in the face to the of our workers and the poor as it is in Swaziland by serving the King the exploiter, the looter who slaps his subjects in the face with a poverty clap.

The behavior of our Central Bank should be condemned, and it is no different to that of the imperialists across the Atlantic in Bretton Wood institutions! As to why, in spite of all the norms and forms of good accounting principles the Central Bank gave away hard earned taxpayers money to a country long in support of the European Union in SACU and stood to opposed our Republic puzzles us. In fact this behavior is no different to the Tinkundla system in Swaziland by the Central Bank.

As Ufasimba we demand a full explanation from the ministry of Finance because this money could have been used to create youth empowerment programmes in line with our resolutions in the Jobs for Youth Summit and better still South African government could have attached a condition for a democracy in Swaziland.

The YCL will continue to give solidarity to the Swazi people in their struggle for Democracy. We further call for the unbanning of all political parties, release of all political prisoners and the return of all those in exile.

Issued by the YCL head office.