Tanzanian government borrow 1.6 trillion in one year

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By Mnaku Mbani
The government of Tanzania borrowed Tsh1.6 trillion during the year ended in January 2017 to TZS 10,468.2 billion at the end of January 2017 from Tsh8.8 trillion recorded in January 2016.According to Bank of Tanzania Monthly Economic Review for February 2017 has said that on month-to-month, the debt increased by TZS 14.0 billion from the preceding month.
However, the profile of domestic debt by instruments remained almost the same as in December 2016.

Nonetheless, the average time to maturity of the outstanding domestic debt improved marginally from 3.4 years at the end of the preceding month to above 3.5 years in January 2017. However, on annual basis, the average time to maturity decreased from 4.1 years.
Commercial banks remained leading investors in domestic debt by accounting for 39.9 percent of total domestic debt at the end of January 2017.
This was, however, a substantial change from 51.2 percent at the end of corresponding period in 2016. Holding of domestic debt by other investors, apart from banks and pension funds5, continued to be relatively low.
Domestic debt issued to finance government budget during January 2017 amounted to TZS 679.0 billion. Treasury bills and bonds issued amounted to TZS 503.9 billion and TZS 175.0 billion, respectively. On annual basis, debt issued was TZS 6,016.5 billion, of which TZS 4,310.8 billion was Treasury bills and TZS 1,705.7 billion Treasury bonds. 
Domestic debt that fell due for payment during the month was TZS 711.1 billion, which included TZS 589.5 billion that was rolled over and the balance was paid out of the government resources.
Domestic debt that fell due for payment during the year ending January 2017 was TZS 4,915.8 billion, of which TZS 3,859.4 billion was rolled over and the balance was paid out.

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