Eswatini has denied allegations that it used public assets as collateral in the event of a loan default to Taiwan.
The Times of Eswatini had reported that the government offered two national assets as security if it failed to repay a loan for the construction of the International Convention Centre and Five Star Hotel.
However, Eswatini’s Economic Planning and Development Minister Thambo Gina released a statement refuting these claims.
He stated that Eswatini laws do not permit the pledging of public assets as loan collateral, and that reports to the contrary were spreading false information against the country’s partnership with Taiwan.
He emphasised that their bilateral cooperation has been ongoing since 1968 and adheres to Eswatini’s laws and constitution.
Eswatini is the only African country and one of 14 nations globally to maintain diplomatic ties with Taiwan, which China considers a breakaway province. The two countries will commemorate 55 years of diplomatic ties in September.
