Invisible
Robot
- Feb 11, 2006
- 9,075
- 7,878
By Victor Karega
The national debt stock increased by nearly two per cent in June to about $8.49 billion (about Sh11 trillion) from the previous month's figure of $8.33 million, according to the Bank of Tanzania's July monthly economic review (MER).
The central bank attributes the increment to exchange rate fluctuations, accumulation of arrears on external debts, new external loans and issuance of new government bonds on domestic debts.
BoT says that out of the total debt stock, the external debt was 79.5 per cent and domestic debt 20.5 per cent.
The MER further shows that the external debt rose to about $6.75 billion in June from $6.62 billion in May.
"Out of the total external debt stock, $5,236.3 million (77.5 per cent) was disbursed outstanding debt (DOD) and the remaining balance of $1,516.3 million equivalent to 22.5 per cent was interest arrears," says the report.
The outstanding domestic debt stock in June rose by Sh19.35 billion (0.9 per cent) from about Sh2.24 trillion recorded at the end of the preceding month to about Sh2.26 trillion.
"The increase was due to new financing, mainly through issuance of government bonds. Out of total domestic debt, Government securities accounted for 99.6 per cent and the rest 0.4 per cent was unsecuritised debt."
The profile of disbursed outstanding debt (DOD) by creditor category reveals that the central government remained the largest borrower holding debt amounting to $4,118.2 million (78.6 per cent) followed by private companies with $972.4 million (18.6 per cent). The debt owed by parastatal companies was $145.7 million equivalent to 2.8 per cent of DOD.
It also indicates that multilateral institutions, bilateral, commercial and export creditors remained the leading lenders accounting for $3,177.4 million (60.7 per cent), $933.5 million (17.8 per cent, $707.3 million (13.5 per cent) and $419.1 million (8.0 per cent) respectively.
During the month under review, disbursements received and recorded amounted to $7.7 million while external debt service payment amounted to $4.6 million. Out of this, principal repayments amounted to $2.2 million and interest payments were $2.4 million.
The report shows that BoT is the leading creditor to the Government, holding 39.5 per cent of the total domestic debt followed by commercial banks with 28.7 per cent.
The other creditors are pension funds, non-bank financial institutions and other official entities, which hold 25.8 per cent, 2.3 per cent and 1.5 per cent respectively.
"The remaining portion of 2.2 per cent was held by insurance companies, private sector creditors and BoT special fund."
Source: The Citizen
The national debt stock increased by nearly two per cent in June to about $8.49 billion (about Sh11 trillion) from the previous month's figure of $8.33 million, according to the Bank of Tanzania's July monthly economic review (MER).
The central bank attributes the increment to exchange rate fluctuations, accumulation of arrears on external debts, new external loans and issuance of new government bonds on domestic debts.
BoT says that out of the total debt stock, the external debt was 79.5 per cent and domestic debt 20.5 per cent.
The MER further shows that the external debt rose to about $6.75 billion in June from $6.62 billion in May.
"Out of the total external debt stock, $5,236.3 million (77.5 per cent) was disbursed outstanding debt (DOD) and the remaining balance of $1,516.3 million equivalent to 22.5 per cent was interest arrears," says the report.
The outstanding domestic debt stock in June rose by Sh19.35 billion (0.9 per cent) from about Sh2.24 trillion recorded at the end of the preceding month to about Sh2.26 trillion.
"The increase was due to new financing, mainly through issuance of government bonds. Out of total domestic debt, Government securities accounted for 99.6 per cent and the rest 0.4 per cent was unsecuritised debt."
The profile of disbursed outstanding debt (DOD) by creditor category reveals that the central government remained the largest borrower holding debt amounting to $4,118.2 million (78.6 per cent) followed by private companies with $972.4 million (18.6 per cent). The debt owed by parastatal companies was $145.7 million equivalent to 2.8 per cent of DOD.
It also indicates that multilateral institutions, bilateral, commercial and export creditors remained the leading lenders accounting for $3,177.4 million (60.7 per cent), $933.5 million (17.8 per cent, $707.3 million (13.5 per cent) and $419.1 million (8.0 per cent) respectively.
During the month under review, disbursements received and recorded amounted to $7.7 million while external debt service payment amounted to $4.6 million. Out of this, principal repayments amounted to $2.2 million and interest payments were $2.4 million.
The report shows that BoT is the leading creditor to the Government, holding 39.5 per cent of the total domestic debt followed by commercial banks with 28.7 per cent.
The other creditors are pension funds, non-bank financial institutions and other official entities, which hold 25.8 per cent, 2.3 per cent and 1.5 per cent respectively.
"The remaining portion of 2.2 per cent was held by insurance companies, private sector creditors and BoT special fund."
Source: The Citizen