Tanzania external debt increases to $16.2 bill

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Mnaku Mbani
External debt reached USD 16,280.8 million at the end of June 2016.
This represented an increase of USD 74.5 million over the preceding month and USD 870.6 million relative to the corresponding period in 2015. In both cases, the increase was on account of new disbursement of funds by various creditors.
According to the Bank of Tanzania economic report for July, the Central government debt continued to dominate the profile of external debt in terms of borrower category, by accounting for nearly 81 percent of the external debt.
In terms of volume, the central government debt stood at USD 13,135.1 million at end June 2016, an increase of USD 88.6 million from the preceding month and USD 862.3 million or 7.0 percent over the corresponding period in 2015.
The profile of external debt in terms of creditor category remained fairly the same as in the preceding month and the corresponding period in 2015, where loans from multiteral institutions and commercial creditors have dominated other forms of borrowing avenues.
It is also worthy noting that the proportional of debt owed to commercial creditors and export credit to overall external debt slightly fell down, at least viewing it from June 2015. By contrast, the shares of multilateral and bilateral creditors slightly went up.
In terms of disbursements (funds) received and debt service, there was a net inflow, both on month-to-month and annual basis, hence leading to the increase in debt stock.
Disbursements received during June 2016 amounted to USD 134.2 million, of which USD 103.3 million was in favour of the central government and the balance by the private sector. On annual basis, debt inflows amounted to USD 1,565.1 million, of which USD 1,079.7 million was received by the central government.
External debt payment amounted to USD 42.2 million in June 2016. The largest portion (USD 36.5 million) was principal repayment, mainly for the IMF’s Extended Cedit Facility (ECF) loan, and the balance was interest payment.
On annual basis, external debt service amounted to USD 620.9 million, of which USD 367.8 million was principal repayment and USD 293.4 million interest payment. External debt service by the central government was USD 439.7 million.

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