Tanzania external debt increases by 3.4 pc

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Tanzania External debt stock increased by 3.4 percent to USD 17,802.6 million at the end of April 2017, from USD 17,222.8 million recorded at the end of June 2016. The Bank of Tanzania Monetary Policy Statement for June 2017 has said out of total external debt stock, 80.3 percent was public debt. 


Despite the increase, the debt remains sustainable as the present value of external debt to GDP ratio stood at 19.9 percent, which is way below the international sustainability threshold of 40.0 percent.
 Domestic debt increased by 11.1 percent to TZS 11,132.3 billion at the end of April 2017, compared with TZS 10,012.8 billion recorded at the end of June 2016. The increase domestic and external debt was mainly on account of borrowing to finance government budget.

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Tanzania intra-SADC trade decline by 15 pc

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The beauty queen from Tanzania who is building a furniture empire

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Why people fail to repay VICOBA loans

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By Mnaku Mbani Large size of the families has been identified as the main reason for failure to pay back loan in VICOBA as many members having a lot of dependents in their family. This implies that large number of members in the family cannot be able to engaged in economic activities, so the loan which is obtained from VICOBA acts as the only source of income in the family to solve different issues rather than channeling in income generation so that they cannot be able to repay loan on time.
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