Eswatini Central Bank Pledges to Rebuild Forex Reserves Amid Regional Tensions

The Central Bank of Eswatini has pledged to aggressively rebuild its foreign exchange reserves, now at a 26.2% month-on-month decline, in an effort to maintain banking stability amid regional power shifts and trade tensions.

The recent withdrawal of Western sanctions on Eswatini, following the country's re-engagement with the international community under King Mswati III's ascension to the throne in 2018, has opened up new economic opportunities for the small nation. However, this newfound stability is being tested by rising regional tensions between Eswatini and its southern neighbor, South Africa.