The Central Bank of Eswatini published its June and July 2026 monetary statistics, reporting that provisional gross official reserves rose 23.1% month on month to SZL 10 billion in July, driven mainly by quarterly Southern African Customs Union revenue. Reserves remained 16.7% below their year-earlier level, while import cover improved to 2.3 months from 1.9 months in June. The discount rate and commercial banks’ prime lending rate remained at 6.75% and 10.25%, respectively. Broad money supply increased 4.3% month on month and 18.4% year on year to SZL 27.7 billion in June, supported by growth in time and demand deposits. Private-sector credit declined 0.5% on the month but rose 10.1% annually to SZL 23.8 billion, as a 1.9% monthly contraction in business lending outweighed continued household credit growth. Banking-sector liquid assets edged up to SZL 8.7 billion, although the liquidity ratio fell to 31.9% as domestic liabilities grew faster than liquid assets.
Central Bank of Eswatini2026-08-11
Central Bank of Eswatini reports reserves rebound to SZL 10 billion and broad money growth of 18.4%
The Central Bank of Eswatini reported that provisional gross official reserves rose 23.1% to SZL 10 billion in July, lifting import cover to 2.3 months, although reserves were down 16.7% year on year. Broad money grew 18.4% annually in June, while private-sector credit increased 10.1% despite a monthly decline. The discount rate remained at 6.75%.