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Banki ya Dunia: Mpango wa Serikali ya Tanzania Kukopa ni 'Bomu'

Discussion in 'Jukwaa la Siasa' started by BAK, Jun 4, 2010.

  1. BAK

    BAK JF-Expert Member

    #1
    Jun 4, 2010
    Joined: Feb 11, 2007
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    WB faults govt’s borrowing plan

    [​IMG]
    World Bank Country Director for Tanzania, Uganda and Burundi, Mr John McIntyre, addresses a press conference in Dar es es Salaam yesterday.

    By Lucas Liganga and Beatus Kagashe

    The World Bank said yesterday the government’s plan to borrow $1.5 billion (about Sh2.1trillion) from local financial sources to boost the 2010/11 Budget could have negative implications.

    The World Bank Country Director for Tanzania, Uganga and Burundi, Mr John McIntyre, told a news conference that borrowing from local commercial banks could be counterproductive if interest rates were too high.

    Finance and Economic Affairs minister Mustafa Mkulo announced last week that getting the money was possible because the country’s credit rating and worthiness was high.

    A lead economist with the World Bank office in Tanzania, Mr Paolo Zacchia, said the decision could also squeeze out the private sector because local banks could give preference to the government.

    “The best way out for the government is to avoid wasteful spending. This has been the view of Tanzanian economists, including university academics,” said Mr Zacchia, when asked by telephone if there was an alternative to borrowing from local banks.

    He added: “When you have to borrow very expensively you have to look at how you spend your money.”

    Mr Zacchia declined to comment further, saying he did not know how much the government planned to borrow from local sources, the duration of repayment and interest rates to be charged.

    Coincidentally, Finance and Economic Affairs minister Mustafa Mkulo said separately yesterday that measures to curb wasteful spending included a ban on buying furniture from abroad.

    He said the government had been buying poor quality furniture from abroad every year.

    “From the 2010/11 financial year, the government will be buying furniture from local manufacturers,” he said when opening the Finance and Economic Affairs ministry workers’ council meeting in Dar es Salaam.

    He mentioned other measures as continuous verification of civil servants’ payrolls to avoid paying phantom workers.

    Mr Mkulo added that from the next financial year, which begins on July 1, housing allowances for senior civil servants would be paid based on specific rates, and not proportionally to salaries.

    The government would also start using pre-paid electricity meters, popularly known as Luku, to avoid accumulation of bills.

    On Monday, the newly appointed Tanzania Electric Supply Company (Tanesco) managing director, Mr William Mhando, said government departments owed the firm a whopping Sh58.5 billion in unpaid bills.

    Mr Mkulo dismissed criticism of the decision to borrow Sh1 trillion from local banks, saying the funds would be
    Spent on development projects, including roads, railways, water, ports, bridges and irrigation, which will help economic growth and poverty reduction.

    “I don’t see any problem is the government borrows to improve the infrastructure...commercial banks in the country hold over Sh50 trillion in deposits, so borrowing only Sh1 trillion should not be a problem,” he said.

    Mr Mkulo told journalists last week that even the International Monetary Fund (IMF) had approved of borrowing since the government had the capacity to repay loans without affecting the macroeconomic, fiscal and monetary fundamentals.

    “Apart from the $250 million we are sure to get from the Stanbic Financial Group, we also expect more funds from other financiers who have shown interest in supporting us,” he said.

    He reiterated that donors’ decision to withhold $220 million in General Budget Support (GBS) for 2010/11 would not have much impact since the government could get up to $2 billion from other sources.

    Most of the GBS is used to finance development expenditure. The minister said already Ireland had promised to provide $1 million to support the general budget, adding that everything would be in order before the Budget is read out next week.

    “The money will be invested in areas with economic value and meaningful returns on investment and not for paying allowances or seminars and workshops,” he emphasised.

    The government has announced a Sh11.1 trillion Budget for 2010/11, with part of it being financed through loans, which are expected to make up a fifth of the financial plan.

    The GBS donors pointed at the government’s failure to timely undertake critical reforms as the reason for cutting their support, which is a major component of budget funding.

    The move raised fears that financing the 2010/11 Budget could face difficulties which could lead to frustrating efforts to undertake social and development projects.
     
  2. BAK

    BAK JF-Expert Member

    #2
    Jun 4, 2010
    Joined: Feb 11, 2007
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    We were told that the Government plan to borrow $300 million, how come the amount is now $1.5 billion, five more times than the original amount!? :angry:...SMDH!!!!
     
  3. Shadow

    Shadow JF-Expert Member

    #3
    Jun 4, 2010
    Joined: May 19, 2008
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    WB faults govt’s borrowing plan digg

    [​IMG] World Bank Country Director for Tanzania, Uganda and Burundi, Mr John McIntyre, addresses a press conference in Dar es es Salaam yesterday.

    By Lucas Liganga and Beatus Kagashe

    The World Bank said yesterday the government’s plan to borrow $1.5 billion (about Sh2.1trillion) from local financial sources to boost the 2010/11 Budget could have negative implications.The World Bank Country Director for Tanzania, Uganga and Burundi, Mr John McIntyre, told a news conference that borrowing from local commercial banks could be counterproductive if interest rates were too high.

    Finance and Economic Affairs minister Mustafa Mkulo announced last week that getting the money was possible because the country’s credit rating and worthiness was high.

    A lead economist with the World Bank office in Tanzania, Mr Paolo Zacchia, said the decision could also squeeze out the private sector because local banks could give preference to the government.

    “The best way out for the government is to avoid wasteful spending. This has been the view of Tanzanian economists, including university academics,” said Mr Zacchia, when asked by telephone if there was an alternative to borrowing from local banks.

    He added: “When you have to borrow very expensively you have to look at how you spend your money.”

    Mr Zacchia declined to comment further, saying he did not know how much the government planned to borrow from local sources, the duration of repayment and interest rates to be charged.

    Coincidentally, Finance and Economic Affairs minister Mustafa Mkulo said separately yesterday that measures to curb wasteful spending included a ban on buying furniture from abroad.

    He said the government had been buying poor quality furniture from abroad every year.

    “From the 2010/11 financial year, the government will be buying furniture from local manufacturers,” he said when opening the Finance and Economic Affairs ministry workers’ council meeting in Dar es Salaam.

    He mentioned other measures as continuous verification of civil servants’ payrolls to avoid paying phantom workers.

    Mr Mkulo added that from the next financial year, which begins on July 1, housing allowances for senior civil servants would be paid based on specific rates, and not proportionally to salaries.

    The government would also start using pre-paid electricity meters, popularly known as Luku, to avoid accumulation of bills.

    On Monday, the newly appointed Tanzania Electric Supply Company (Tanesco) managing director, Mr William Mhando, said government departments owed the firm a whopping Sh58.5 billion in unpaid bills.

    Mr Mkulo dismissed criticism of the decision to borrow Sh1 trillion from local banks, saying the funds would be
    Spent on development projects, including roads, railways, water, ports, bridges and irrigation, which will help economic growth and poverty reduction.

    “I don’t see any problem is the government borrows to improve the infrastructure...commercial banks in the country hold over Sh50 trillion in deposits, so borrowing only Sh1 trillion should not be a problem,” he said.

    Mr Mkulo told journalists last week that even the International Monetary Fund (IMF) had approved of borrowing since the government had the capacity to repay loans without affecting the macroeconomic, fiscal and monetary fundamentals.

    “Apart from the $250 million we are sure to get from the Stanbic Financial Group, we also expect more funds from other financiers who have shown interest in supporting us,” he said.

    He reiterated that donors’ decision to withhold $220 million in General Budget Support (GBS) for 2010/11 would not have much impact since the government could get up to $2 billion from other sources.

    Most of the GBS is used to finance development expenditure. The minister said already Ireland had promised to provide $1 million to support the general budget, adding that everything would be in order before the Budget is read out next week.

    “The money will be invested in areas with economic value and meaningful returns on investment and not for paying allowances or seminars and workshops,” he emphasised.

    The government has announced a Sh11.1 trillion Budget for 2010/11, with part of it being financed through loans, which are expected to make up a fifth of the financial plan.

    The GBS donors pointed at the government’s failure to timely undertake critical reforms as the reason for cutting their support, which is a major component of budget funding.

    The move raised fears that financing the 2010/11 Budget could face difficulties which could lead to frustrating efforts to undertake social and development projects.

    Source:WB faults govt
     
  4. Rev. Kishoka

    Rev. Kishoka JF-Expert Member

    #4
    Jun 4, 2010
    Joined: Mar 7, 2006
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    WTF? WTF? WTF?

    What is wrong with Mkwere and his team? Wanaruka mkojo wa WB/IMF/ADB na kuangukia kwenye mavi ya Stanbic, Citi Bank, Exim na StanChart? What is the colateral to the debt and its obligation?
     
  5. Tai Ngwilizi

    Tai Ngwilizi JF-Expert Member

    #5
    Jun 4, 2010
    Joined: Apr 20, 2010
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    Wakuu, kuna yeyote anayejua details za hizi critical reform zinazoongelewa hapa? najaribu kujiuliza nani ananufaika zaidi na hizi reforms wanazopush kabla ya uchaguzi, donors, serikali au wakulima kule kijijini? kama bad governance na nonsence spending mbona vipo juu miaka yote hii ambayo JK na serikali yake wamekuwa wakisifiwa na hao hao donors kwamba governance yao nzuri huku wakiongezewa misaada? kulikoni??
     
  6. Tai Ngwilizi

    Tai Ngwilizi JF-Expert Member

    #6
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    namba zinazidi kuwa kubwa...after all how much are they going to borrow???:angry:
     
  7. m

    mapambano JF-Expert Member

    #7
    Jun 4, 2010
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    Huyo ndio waziri wa fedha...Wameshamwaidi 2% Stanbic
    Yani zile za kukopa ndio zitaleta maandeleo, na zile za walipa kodi na donors for paying allowances or seminars. Shame on you!
     
  8. Tai Ngwilizi

    Tai Ngwilizi JF-Expert Member

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    fanicha ambazo zinabadilishwa kila mkubwa mpya anapoingia kwenye nyumba ya serikali (anajichagulia anazopenda), magari, ukarabati wa nyumba, warsha, kongamano, semina, mafuta ya gari, simu, allowances ambazo hazina mwisho etc etc - fedha za hivi vyote zikipunguzwa na kuwekwa kwenye replacement ya msaada ulioondolewa hawatahitaji kukopa hata shilingi
     
  9. U

    Ubungoubungo JF-Expert Member

    #9
    Jun 4, 2010
    Joined: Jul 28, 2008
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    watu wanafanyia experiment uchumi wetu, utafikiri wako maabara vile...
     
  10. D

    DoubleOSeven JF-Expert Member

    #10
    Jun 4, 2010
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    ... na CRDB. Connect the dots. U get mavi hitting the fan. What a stink? In comes the bunch of WASANII wote group moja na mwanafalsafa ya mbayuwayu
     
  11. M

    Mdondoaji JF-Expert Member

    #11
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    Mie nilikuwa nayasema haya na wenzangu but tunaonekana tuna mtindio wa akili je hao World Bank nao vp? Nchi ndio inauzwa hivyo natamani kulia kwa hasira aisee!!!!
     
  12. M

    Mdondoaji JF-Expert Member

    #12
    Jun 4, 2010
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    Mkuu Rev saa zengine hawa watu sijui wanaona wote walipo JF ni wajinga na wana wivu kumbe tunajaribu kuwafahamisha tu kama wanataka. Tizama Thread hii,

    http://www.jamiiforums.com/jukwaa-la-siasa/62148-serikali-kukopa-stanbic-ni-sahihi-4.html

    Halafu compare na anachokisema Paol. Sasa watuambie hizo wanazozikopa watazilipaje? Au tukishafilisika wao wanakimbia nchi?
     
  13. U

    Ubungoubungo JF-Expert Member

    #13
    Jun 4, 2010
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    natamani mi ningekuwa na hela niikopeshe hii selikali, manake naona inahangaika mno sasa, imepoteza uaminifu kwa wale iliiyokuwa inakinga bakuli sasa inatapatapa kwa vibenki vya ndani....tungekuwa waaminifu ktk matumizi ya pesa tunazopewa na wasamaria wema, tungeongezewa badala yakupunguziwa kama ilivyotokea sasahivi..hivi ni aibu kiasi gani wewe unakuwa rais, alafu watu waliokuwa wanachangia kwenye bajeti yako wanakwambia kuwa "haujafanya kazi vizuri hivyo tunapunguza mchango"...

    ni aibu, ina maana mkwere amedhihirika hata nje ya nchi kuwa hawezi kazi...unajua ni kitu cha ajabu kwa wenzetu kuona mtu ameiba pesa alafu wewe unamwambia arudishe tu alafu utamsamehe...ameiba mabilioni afu we unamwambia rudisha tu afu nitakusamehe, anarudisha, you shake hands na anaenda free akiendesha prado lake...kwakweli, hili ni doa ambalo mkwere hatakuja alisafishe na itakuwa historia hadi kwa vizazi vijavyo kwa kitendo hiki alichokifanya....yaani ameshindwa kuwakamata...amewaonea huruma, yuko kwenye system, au tumweleweje? ona sasa aibu nchi za nje kila mtu anatucheka kuwa hatujalichukulia seriously jambo la rushwa tz, ulimsikia balozi wa sweden?
     
  14. M

    Mdondoaji JF-Expert Member

    #14
    Jun 4, 2010
    Joined: Mar 17, 2009
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    Nilimsikia ubungo na siku zilipoanza kesi za kina liyumba na Mramba niliwaambia watu kuwa hizi kesi sitoshangaa tukaona jamaa wanaishia free pengine wakalipwa marupurupu ya usumbufu kwasababu ni kesi ambazo kwakweli sioni uzito wa mtu kufungwa. Liyumba amehukumiwa kufungwa miaka 2 but vithibitisho kila mtu ameviona au kusoma ile kesi ni kwamba hana kesi ya kujibu labda kuzembea. Sasa kimsingi anaachiwa huru tu unless vithibitisho vengine vitokee au kesi ibadilishwe kuwa uzembe badala ya matumizi mabaya ya madaraka.

    Akina Lowassa wanakesi za kujibu lakini wako huru wanadunda ndio nchi yetu hiyo ndio maana wazungu wamechoshwa sasa hawatoi pesa zao.
     
  15. M

    Magezi JF-Expert Member

    #15
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    Mwishowe tutasema bora kutawaliwa na mashoga kuliko CCM na watu wake
     
  16. W

    WaMzizima Senior Member

    #16
    Jun 4, 2010
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    In reality bado bajeti yetu ni ndogo sana kwa kulinganisha mahitaji ya taifa na zaidi kwenye umeme, barabara, reli, elimu na kilimo. Haya ni maeneo ambayo hata kama bajeti yote iende kuyandeleza bado haitoshi. Mfano mdogo tu mahitaji ya umeme kwa Tanzania kwa ukuaji wa sasa tutahitaji kuwekeza zaidi ya tsh 12 trillion kwa miaka mitano mpaka kumi ijayo. Sasa hi ni zaidi ya bajeti nzima ya mwaka ujao na huu ni umeme tu bado mambo mengine.

    Kwa wale ambao wanafuatalia mwenendo wa kiuchumi wa Keynesian wana support matumizi makubwa ya serikali kwenye nchi ambazo sekta yao binafsi bado ni ndogo mfano hapa kwetu, au kwenye nchi zilizoendelea baada ya mishtuko ya kiuchumi ambapo biashara binafsi hazina hela au zinabana matumizi.

    Sasa hii ni kinyume na imani za hizi Bretton woods ambazo siku zote wao wanataka serikali iwe na matumizi madogo. Hivo basi ni wazi WB watapinga mpango wa serikali kukopa nje ya mikopo yao ingawa ni kweli riba yao ni ndogo. Lakini ni kweli vilevile Mkullo anavyosema kuwa sio miradi yote hufadhiliwa na WB na tukisubiri hivyo hatutaendelea.

    Ni vyema serikali ikaangalia namna mbadala za kupata mtaji sio kutegemea WB na wafadhili siku zote. Tunahitaji miundo mbinu mingi ambayo hapa kwetu haipo. Na hii itasaidia kukuza uchumi na hayo ndio mamlaka na jukumu la serikali, kukusanya mapato na kuendeleza miundombinu ili wananchi wapate urahisi wa kufanya shughuli zao, bajeti yetu ni muhimu iendelee kukuwa hadi angalao tufikie trillion 50...kwa sasa ukiangalia bajeti ya trillion 11.5 kwa watu million 40 ni kama Tsh 287,000 kwa kila raia au tsh 24,000 kwa mwezi haifiki hata dola moja kwa siku! sasa kweli tutafika bila kuanza mchakato muhimu wa kuongeza bajeti na hivyo pato la taifa?
     
  17. M

    Mdondoaji JF-Expert Member

    #17
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    Good point but do you think it is wise kwenda kukopa benki kwanini wasiissue securities katika capital market kuwaachia wenye pesa wanunue badala ya kwenda kukopa? Likewise, kama budget ya infrastructure ni ndogo kwanini wasipunguze maeneo ambayo hayana faida kwa taifa kama safari za nje za mkuu na kuhamishia ile budget kwenye sekta nyengine? Mwisho kabisa unasema Trilioni 11.5 ni kama shilingi 786 kwa siku kwa kila mtanzania but kumbuka hii ni budget ya serikali kwa watanzania na sio pato la mtanzania per capital income inakuwa measured by the amount of economic activity per number of population.
     
  18. dkims

    dkims Senior Member

    #18
    Jun 4, 2010
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    am not sure, gov economisties & financial experties are consulted on this,if they are behind this, wanyongwe tu jamani? Us 1 bill kwa interest ya kibongo + Tz currency depreciation may god, after a yr litakuwa limedouble then walipa kodi ndo tutaumia?kwanini wasiuze ndege ya raisi, BMW za ikulu & maVX wa finance hiyo deficit?
     
  19. W

    WaMzizima Senior Member

    #19
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    Navojua mimi ile Eurobond ni govt security ila badala ya kuwa in tsh wanatumia euro, sababu kubwa ni euro interest rate iko chini. Ila hii ya stanbic sina uhakika itakuwa underlined in which currency presumably Tsh sababu ni local banks, hiyo itapunguza demand ya forex toka serikalini. vilevile ujue kuissue gov't bond ni sawa na kukopa maana serikali inabidi izilipe hizo bonds zikisha mature kwa hiyo ni ile ile suala ni riba.
    Safari za nje wote tunakubaliana kuwa zimezidi na ni budi kwa serikali kuzipunguza na kuelekeza nguvu na muda wao kwa maendeleo ya wananchi.
    Vilevile nafahamu hiyo sikuwa natoa mchanganuo wa GDP per capita la hasha, nilikuwa naangalia jumla ya matumizi ya serikali dhidi ya idadi ya wananchi, ukumbuke humu ndimo huduma za jamii (shule, hospitali) zinakotoka pamoja na mishahara ya watumishi wa umma.

    Cha msingi tujadili ni namna gani serikali yetu iweze kuongeza bajeti na matumizi ya miradi ya maendeleo maana ya sasa haitoshi. vilevile sikubaliana na hawa WB kwamba serikali isikope kwingine maana cha msingi hatuwezi kutegemea WB kwa miradi yote. Tukumbuke pia kuwa moja ya sababu za ule mpango wa wafadhili kupunguza misaada na mikopo kwa Tz ni ukwasi uliozikumba nchi nyingi za magharibi baada ya mtikisiko wa uchumi.
     
  20. Deshbhakt

    Deshbhakt Senior Member

    #20
    Jun 4, 2010
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    Why BORROW in the first place?Why not undertake shelving unecessary expenses, ministries etc?Just because you 'have it' does mean you 'use it'!!

    More and more debts....when does it stop??
     
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