MBABANE:Dr Tambo Gina,the Minister of Economic Planning and Development has come-out to clarify that eSwatini is not in any debt trap by the Republic of China on Taiwan.
This comes after Lobamba Lomdzala Member of Parliament(MP)Marwick Khumalo as quoted by the Times Sunday,alleged that the loan secured from Taiwan during the construction of the International Convention Centre(ICC) placed eSwatini in a debt trap with Taiwan.
In press statement released on Wednesday,the Economic Planning Minister clarified he had gone through the loan agreement and was convinced that there was no debt trap.
“The Minister has actually read the original agreement and it does not contain any such requirements and that the Minister is not aware of any other agreements with such conditions.But it can be categorically stated that the International Convention Centre(ICC) and Five Star Hotel lines of credit do not involve pledging of assets as collateral in accordance with the laws of the Kingdom of eSwatini particularly, the Public Finance and Management Act”,said the Economic Planning Minister.
Economic Planning Minister Dr Tambo Gina.