261. Although the balance of payrrrenta uas favourable both in l9g3 and I9g{, thisvas ln Ierge ptrt due to apcclal factors rhich are unlikely to be repeated in l9g5or 1986r nanely, tn ertrernely large short-terrn capital inflos in 1983, whlch wasonly partly rcversed in 1981, and a large loprovernent on current .ccount in t9g4orlng to dclays ln the arrival of irnports related to cyclone repairs, the sellingof Stocks of thc Svazlland cheoical lndustrlee and receipts of reinsurance claimsfor cyclone dernage. short-tern capitrl inflons continue in I9g5 under thelntluencc of lovcr lnterest rrtes prevaillng outside the Rand npnetary area. Thecurrent tccount dcfictt before l98l vas financed by large infl,ous of investrnentctpital for both prlvete and publlc sectors aseociated Hith the major new projectsof those and precedlng years. uuch of the Governoent deficit since then has beenflnanccd by a run-doun in its cash reserves yhich is the equivalent to a reductionin the lcvet of foreign re8erves. Hence, the overall trend in the official reserveposltlon has been declining slnce l9??. Although the balance of payments issooeYhtt bcttcr then previous years, the dovnyard trend remains a oatter of concernend indicates the need for overall restraint in public spending, diversificstion ofcrports rnd batter prornotion of private lnvestment.A/40/44t English Page 93 Table 39 suarilands suFnary Dalance ot payments, 1979-1964 (Utrlions of enalangenr) L979 1980 l98r 1982 r983 1984 Current account balance Trade account ErportB, f.o.b. Inports, t.o.b. Servicea (net) fransfera (net) Goodg and eervlceg account Ipng-tern caprtal (net) Publr.c sector Private aector Ba3lc balance (A+C) Short-tern capital (net) Depoelt noney banra Other snott-tern caprtal lncludlng errora and oolaalona Ocerall bal.nce (A+C+B) Reservea (lncrease - ) Central bank forelgn assete Central bank forergn liabilltieE TO IUT Other @vernnent balances abroad (hcrea8e - )-lrr.g -18.3. -176.5 -125.8351.0 390.0 -527.5 -515.8 0. 5 36.0 119.0 7L.4 -r?6.0 -89.8 34. r 26.2 30.6 2s.6'3.5 -l.r -76.9 8.3 96._1 3I.8 1.7 -0.2 94.4 32.0-9e..?. -u8.7 203.4 -322.L-r{.8 43.8 -I33.5 78.1 31.7 46.7 -11.3 6.0 3.1 2.9 -5.3 5.3 6.7 -0.3 -0.3 -r.1-9!:!. -1r9.0 286.9' -405.9 -27.3 88.0 -r46.3
**Analysis**
The text appears to be discussing the balance of payments and foreign reserves of a country, specifically Swaziland. It highlights the impact of short-term capital inflows, government spending, and cyclone-related damage on the country's economic situation. The text also mentions the need for overall restraint in public spending and diversification of exports.

**Category**
International trade, Economic development