Kazi ya BOT ni nini? Shilingi yazidi kuporomoka, sasa $1=Tsh. 1,500

Inviolata said:
"""This is the time to make good use of our natural resources; we must closely scrutinize the export our minerals to make sure the exports returns home in the form of foreign currency. We must massively advertize, and modernize our infrastructure to improve our tourism sector, expand and make less complicated our maritime services to attract businesses from land locked countries, which will in turn boost our access to foreign currencies. Amid global economic slowdown, our ministries must reduce or cut completely unnecessary foreign trips, straining and consuming millions of dollars from the treasury"""

The Question is, Do we have people capable of doing that??? talking about our Ministries, Are they ready to reduce trips??? to start with, the President himself, Can he manage to do that?? Hii ndio Tanzania jinsi uijuavyo!!!
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Tukiamua...............tutaweza
 
Kila Mtanzania ajiandae kufungua dollar account!
Sio JK atakaeweza kusolve hilo tatizo.

We cannot solve our problems with the same level of thinking that created them
 
Inviolata said:
"""This is the time to make good use of our natural resources; we must closely scrutinize the export our minerals to make sure the exports returns home in the form of foreign currency. We must massively advertize, and modernize our infrastructure to improve our tourism sector, expand and make less complicated our maritime services to attract businesses from land locked countries, which will in turn boost our access to foreign currencies. Amid global economic slowdown, our ministries must reduce or cut completely unnecessary foreign trips, straining and consuming millions of dollars from the treasury"""

The Question is, Do we have people capable of doing that??? talking about our Ministries, Are they ready to reduce trips??? to start with, the President himself, Can he manage to do that?? Hii ndio Tanzania jinsi uijuavyo!!!
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Inviolata, hakuna kisichowezekana kama wote kwa umoja wetu tukiamua. Kama hawa waliopo hawawezi nadhani nafasi tunayo hapo October 31 tubadilshe serekali vinginevyo maumivu ni ya kwetu na watoto wetu.
 
Kila mmoja anajua kuwa shillings zinashuka na sasa ukiwa na dollar unaweza kupata mpaka 1,515 . Kwa hiyo waagizaji wa vi-usafiri fikirieni tena.. worth waiting au muende zenu sijui wapi!
 
mbona nasoma hapa naona:

http://www.bot-tz.org/

FX rates for 26/May/2010

Unit Buying Selling

USD: 136,104.36 138,882.00

Euro: 167,122.54 170,574.87

GBP: 195,241.70 199,254.01

KES: 1,713.23 1,743.65

ZAR: 17,303.31 17,644.55
Au mnaongelea nini? iyo ya mbele yake ni mauzo, nyuma yake ni manunuzi, leo tarehe 26 mwezi wa tano.
 
Sijui BoT wanapata wapi hizo rate, kama ni interbanking rates basi wanapotosha umma kwani hizo rate za 1360 zimeshasahaulika.. ukiwa na mzigo mkubwa unaweza hata kupewa 1,520 kwa jinsi soko linavyoendelea kupaa.. it is terribly volatile, I am afraid to say!
 
Duh nilishtuka sana maana mie najua madafu twanywa kwa bei ya TZS 500 tu sasa kuona yamefika 1500 nikasema eeh mola uchumi wetu waelekea wapi kumbe si madafu ya mnazi bali ni forex mweh
 
Ntemi Kazwile said:
Sijui BoT wanapata wapi hizo rate, kama ni interbanking rates basi wanapotosha umma kwani hizo rate za 1360 zimeshasahaulika.. ukiwa na mzigo mkubwa unaweza hata kupewa 1,520 kwa jinsi soko linavyoendelea kupaa.. it is terribly volatile, I am afraid to say!
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Aisee naona kamradi kangu ka matofali ya kibanda changu katafapigwa jeki sana nikigombania kasafari ka nje mida hii manake naona nikirudi alaamdulilahi!!!
 
Kwa nini bank kama CRDB bado wanaibia watu na hawabadiriki as the rates change?

Yaani wanatumia sijui rates za mwaka gani. Kama una account ya dolla na ukarogwa kuingia ATM machine, umeumia
 
Sinyolita said:
Kwa nini bank kama CRDB bado wanaibia watu na hawabadiriki as the rates change?

Yaani wanatumia sijui rates za mwaka gani. Kama una account ya dolla na ukarogwa kuingia ATM machine, umeumia
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Yeah, ni kweli CRDB hata ukituma pesa kutoka nje ya nchi interms of USD exchange rate yao iko chini kwa kununua japo kwa wiki hii naona wame-improve kidogo wakati wanauza kwa bei kubwa zaidi tena. Kwahiyo ukichukua madafu kwa VisaCard yenye akaunti ya dola umeumia.
 
Kwa nini shillingi huwa inaporomoka kila tukikaribia uchaguzi mkuu??????????

I smell a rat, usikute kuna hela chafu kama za EPA, Deepgreen etc. zimeshaingia mtaani kwa ajili ya kumuuza JK. Si mnakumbuka hata 2005 mambo yalikuwa lmost namna hii!
 
Nyambala said:
Kwa nini shillingi huwa inaporomoka kila tukikaribia uchaguzi mkuu??????????

I smell a rat, usikute kuna hela chafu kama za EPA, Deepgreen etc. zimeshaingia mtaani kwa ajili ya kumuuza JK. Si mnakumbuka hata 2005 mambo yalikuwa lmost namna hii!
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Brother,
You are right, inawezekana watu wamepiga deal sehemu sasa wanatafuta dollar kwa nguvu zote ili wahamishie ughaibuni. Au wadosi wanahamisha mali zao, angalua kwa muda, kwenda ughaibuni wakihofia serikali inaweza kubadilika na ikabainika kuwa fedha zile hawakuzipata kwa haki..
 
Nyambala said:
Kwa nini shillingi huwa inaporomoka kila tukikaribia uchaguzi mkuu??????????

I smell a rat, usikute kuna hela chafu kama za EPA, Deepgreen etc. zimeshaingia mtaani kwa ajili ya kumuuza JK. Si mnakumbuka hata 2005 mambo yalikuwa lmost namna hii!
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Uncle ndiyo maana yake mkuu.

Rais anamwandikia gavana aingize kama trilioni moja na nusu jkwenye mzunguko wa currency alafu uchaguzi ukiisha gavana anazivuta zote na kuzichoma moto.

Hili ni jambo la kawaida mno.

Australia kuna uchaguzi mwezi October mwaka huu dola imeporomoka kutoka 1 AUD= 90 cents usd hadi 1 AUD=80 cents USD.
Wanaparangana na wapinzania imebidi wapandishe kodi ya faida kutokana na faida za za uvunaji wa madini (extracted mining products) kwa wachmba madini.
 
Madini yanayochimbwa nchini kama soko lake lingekuwa Dar Es Salaam na mauzo
yote kufanyika hapo basi nchi ingekuwa na hifadhi kubwa ya fedha za kigeni kama
Johannesburg kwa South Afrika.
Lakini kwa hali hii mauzo ya dhahabu na almasi yanafanyika ughaibuni shillingi haiwezi
kutengamaa, nchi hii haina viwanda na hizo bidhaa za kuuza nje zinapungua siku hadi
siku kwa hiyo shillingi haina pa kuegemea itaendelea kuzorota kwa kwenda mbele.
 
Ogah said:
Wakuu, ni muhimu kujadili hili suala............hebu tumsome huyu Ndugu yetu anavyo eleza kuhusu athari na hatua tunazoweza kuchukua............


.........From Michuzi Blog..............

John mashaka hits at the fall of madafu

THE FALL OF THE SHILLING…..DEBATE!

 The sudden drop in value of the domestic currency, Tanzanian Shilling, against major global currencies, is a matter of great concern. Currency Board – regulators- must urgently come up with a fix to contain this potential economic nightmare from become contagion; sending the domino effect into our main stream ailing economy, and perhaps plunging our country into economic chaos.

Within a span of two months, United States dollar has jumped from Tsh.1250 to a median of Tsh1400, against the Tanzanian shilling; a whopping 12% leap and seemingly sprinting towards Tsh 2,000, per one USD. This currency instability –fluctuation-is quite worrisome, not only to the domestic and foreign corporations; but to the entire economic spectrum. This trend may unravel uncontrollable inflation, and perhaps retard or suppress economic activity –growth-. This is a national concern that is sending chilling effects amongst the citizens on the direction of the nation. We can only ask ourselves on the mechanism that triggered, so abruptly, the fall of the shilling?

Purchase of foreign made industrial, agricultural equipment, and spare-parts need foreign currency –US Dollar, GB pound, Euro etc- . We need foreign currency for the importation of automobiles, purchase of medicine and other medical related equipment. Foreign currency is needed to send our children to school in India, Malaysia, UK, America etc. We even need foreign currency to import the cheap goods from Far East, and in the face of high unemployment, and stagnant wages, this sharp fall of currency, proportionally diminishes our purchasing power parity

A fall of the shilling means investments within the country will result in lower returns when converted back to the foreign currency, as such, most of foreign corporations will have no choice but to raise cost of their goods and services to meet operating cost and at the same time remain profitable. Otherwise, they may be forced to shut down their operations. Likewise, when the value of a domestic currency falls sharply, importation of essential goods and commodities proportionally decreases, resulting into a massive inflation, characterized by sky high prices of essential goods, and commodities

A few months ago, we discussed the impact of dollarization of an economy. Today we are inclined to revisit the topic, along with the nay Sayers – John Mashaka's vehement critics-, in order to explain how our country has gotten into this ferocious economic debacle? When we have to pay for housing, air ticket, maritime, and other services in foreign currency, we end up creating an artificial excessive demand for foreign currencies. Since our country's has a negative balance of payment, or trade imbalance; meaning we import more than we export, our foreign currency reserve is must always play in the negative territory

What the country is experiencing today is without a doubt, a beginning of an extreme inflation. I believe that, inflation will be a major event in the latter part of the year, with the consumer price index roughly doubling in the next few months. Taking into account the rate of unemployment, and stagnant wages vs. rise in cost of living, I tend to see prices of basic commodities doubling and even tripling in the next few months, should the shilling continue to lose ground against major currencies. This situation will force many importers out of business as a result of high cost of the foreign goods in relation to the revenue needed to remain operational

The abrupt dive of our currency may be poor man's problem at the moment, but has time goes, even the societal elite will fill the pinch when some of their billions stashed domestically, turns out to be worthless. It becomes unsustainable when a loaf of bread fetches more than Tsh. 10,000, Sugar Tsh. 12,000 and so forth. Already, millions around the country are experiencing unusual economic hardship; my recent trip to Tanzania exposed me to rather, a painful encounter; I met a school teacher who could not only send her son to a secondary school, but was also unable to buy one kilogram of sugar. Similar stories are everywhere in Tanzania

Zimbabwe is a vivid example our country should learn from, and with elections nearing, we SHOULD expect both legal and ill gotten money into the circulation chasing few goods, and the little foreign currency in the country. Without enforcement of monetary policies, domestic usage of the dollar will only continue to thrive. This must be stopped at all cost, as it makes very little sense to use a foreign currency in a sovereign nation. Why should people pay rent in USD? Why should people purchase air tickets with foreign currencies?

If the wealthy within the establishment are imposing the usage of United States dollar, so that they can transfer their wealth into their foreign bank accounts, for the sake of the majority which is more than 98%, Governor Ben Ndulu, should be given more teeth to reign on commercial banks, and other financial institutions exhilarating this problem immediately, as this is one of the primary causes of the demise of the Shilling, else, we must reconcile with the emergence of new class of worthless of billionaires as the shilling continue to fall in value

On the face of the gloomy global economic outlook, we are certainly sure that, even our European and other Western backers currently battling economic blues of their own, will reduce the amount of aid to our country, which accounts for a bigger percentage of our national budget. Consequently, we should embrace ourselves for the worst case economic scenario as the foreign currency crisis will only deepen

With the prevailing economic hardship, many of the donor countries are not ready to prop-up nations with unclear economic policies. In the eyes of the world, we have failed to demonstrate fiscal conservativeness, and neither do we have visible, and attainable economic policies. In a simple language, we are corned with no way out. The only option we have is to make a u-turn from being donor dependant, to being an innovative nation, with abilities to correct our negative balance of payment. The onus is in the hands of our country leadership to adopt, and implement attainable economic policies. We must encourage domestic manufacturing; boost our exports while reducing our importation of the unnecessary goods to choke off excessive demand for the foreign currencies.

It is natural that humans respond positively by being innovative in times of need, than in times of abundance. This is the time to make good use of our natural resources; we must closely scrutinize the export our minerals to make sure the exports returns home in the form of foreign currency. We must massively advertize, and modernize our infrastructure to improve our tourism sector, expand and make less complicated our maritime services to attract businesses from land locked countries, which will in turn boost our access to foreign currencies. Amid global economic slowdown, our ministries must reduce or cut completely unnecessary foreign trips, straining and consuming millions of dollars from the treasury

In an absolute, or in worst case scenario, although these are extreme measures, we may be forced to peg our currency against the United States Dollar, British Pound and the Euro to save our economy from collapsing, or simply dollarize our economy as a measure of the last resort. This will give room for a fresh start even though will be extremely difficult for ordinary citizens, I however, have faith in Governor Ben Ndulu, should he be given the necessary tools and support he needs to curb this growing fiscal nightmare. This is my perspective let me hear yours!

Mungu Ibariki Tanzania

John Mashaka
 mashaka.john@yahoo.com
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Naona J. Mashaka leo kachambuliwa vizuri na adversary wake mkuu, US Blogger kule Michuzi Blog. Its very embarrassing kuona Professional Banker J. Mashaka hajui tofauti kati ya Monetary na Fiscal Policies kama ilivyodhihirishwa na US Blogger.
 
Coach Parcells said:
Naona J. Mashaka leo kachambuliwa vizuri na adversary wake mkuu, US Blogger kule Michuzi Blog. Its very embarrassing kuona Professional Banker J. Mashaka hajui tofauti kati ya Monetary na Fiscal Policies kama ilivyodhihirishwa na US Blogger.
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Na mi nimesoma Mashaka gave a shot hila jamaa ndio kamwaga pumba hatari. Sidhani kama anaelewa kwamba ktk matatizo ya sasa wanao umia zaidi ni wale wenye kipato cha chini zaidi. Its the job of Ndullu kuwaeleza (advise) akina Mkullo what measures need to be taken na wao ndio hutengeneza policies (this is where the right fiscal policies have to be made based on what the govenor advised).

Sasa i do not know how he allocated the job of fiscal policing to the ministry of finance when the advise has to come from BoT (hadhina), wao ndio wanajua what money there his. Na fiscal policing is about money to generate or to cut (through taxation) hapo ndio hupangwa rate inorder to increase the economy movement based on the of state it. More cuts in good times so that the government can use the funds on its projects as the econmy is doing fine and less cuts to boost businessess BoT has to advise and the ministry has to implement based on the adivse.

How on earth would mkullo know how much is on the reserve at BoT without them, or how would he know how much is coming in without them. So how is going to make the right fiscal policies without their advise. In short if you talk about pumba the guy is full of them kwenye mengi tu.
 
Juma Contena,

Ni sahihi (according to US Blogger) kuwa kuna mgawanyo wa wazi wa majukumu na wajibu baina ya BOT na MoF ambapo the latter wanatunga na kutekeleza all fiscal-related issues/policies wakati the former kazi yao kubwa ni masuala yote yanayohusiana na uendeshaji wa Monetary policies. Hiyo haina ubishi mzee (Piga! Uwa! Garagaza!).
 
Coach Parcells said:
Juma Contena,

Ni sahihi (according to US Blogger) kuwa kuna mgawanyo wa wazi wa majukumu na wajibu baina ya BOT na MoF ambapo the latter wanatunga na kutekeleza all fiscal-related issues/policies wakati the former kazi yao kubwa ni masuala yote yanayohusiana na uendeshaji wa Monetary policies. Hiyo haina ubishi mzee (Piga! Uwa! Garagaza!).
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On the face value ndio utaona ni hivo, lakini in real politics it doesnt work that way. Kwanza watu wenyewe 'both of them' just mentioned the terms without fully explaining how they would solve with the problem at hand. They seem to think a third world economy could be tackled using same measures as economies that have reached equillibrum only now and then intervation is needed to bring back balance.

Hence measures taken by the west are not going to work for the improvement of a third world economy due to thousands of problems facing us. Kama nilivyokwambia mashaka made an attempt your guy kaboronga. The two policies aim to boost internal growth (macro) and the problems at hand, some form of protectionism is needed first or else tutaendelea na uchumi ambao huna involve a niche market those lucky enough to participate on it. Yet over two third of the population are daily struggles serikali inazani kilimo kwanza ndio sera, lol.

Usiangalie kwa kuwa one is involved with interest rates ukadhani only a banker can do the job and the other is of tax therefore its for a politician. kwanza angalia qualifications of those two people in those sectors ndio utaelewa why we need people with similar background. Ni watu ambao wanatakiwa kushauriana ktk mijadala ya maendeleo ili waweze kuja na right policies when needed.
 
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