Tanzania external debt increases

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By Mnaku Mbani
External debt stock reached USD 16,399.8 million at end of September 2016, a decrease of USD 71.4 million from the preceding month. This was mainly due to repayment of maturing instalments of non-concessional loans and private sector loans.

On annual basis, the stock of debt increased by USD 778.9 million from the level in corresponding period in 2015, mainly due to new disbursements.
Central government debt reached USD 13,271.9 million, representing a decrease of USD 10.1 million from the preceding month. The debt also represented increase of USD 936.5 million over the stock of the corresponding period in 2015.The share of central government debt increased slightly to 80.9 percent in September 2016.
The stock of external debt increased across all creditor categories, except for commercial creditor, and the percentage share composition changed only slightly from the corresponding period in 2015.
Disbursements received during September 2016 amounted to USD 41.8 million, of which USD 41.5 million was received by the central government. Meanwhile, external disbursements during the year ending September amounted to USD 2,380.1 million, of which USD 1,072.8 million was received by the central government.

On the other hand, external debt service during September 2016 amounted to USD 154.9 million, of which Government payments was USD 150.8 million. External debt service during the year ending September 2016 amounted to USD 1,102.2 million, out of which USD 727.1 million was paid by the government.
Debt service depicts payment spikes related to maturing non-concessional debt, mainly to Credit Suisse and Standard Bank.
Projection of private sector debt service may, however not be translated to actual debt service as most payments are being rescheduled depending on economic conditions of the borrower and for intercompany borrowing.
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