BoT warns of hard times as inflation bites

...Sasa nyie wandugu mlitegemea benno acheze volley ball wakati amezungukwa na wachezaji wa soka tena kwenye uwanja wa soka???
 
1. Ni kweli baadhi ya viongozi wetu wa taifa ni wabovu sana, alipoingia huyu Ndulu, tuliambiwa ni kichwa akajaribu ku-spin maneno ya uchumi in politics, sasa huyooooooo yamemshinda.

2. Mimi sielewi ni wakati gani bongo tuliwahi kuwa na uchumi safi, au ni lini hatukuwa na inflation, au toka tupate uhuru, mimi ninajionea kuwa mambo ni yale yale tu, waya mkali na sasa ndio worse kuliko anytime in the past.

3. Uchumi wa dunia nzima sasa ni noma, leo huko ma-US, kampuni kubwa kama Bear Sterns, ambayo mwaka jana tu share zake zilikuwa ni $170, leo imenunuliwa na JP Morgan kwa only $2 shares, sasa huyo aliyekuwa anakataa kuwa bongo uchumi si mbaya alikuwa anasema nini?

Ninaamini uchumi wetu ni mbovu, toka tuwe huru haujwahi kuwa sawa, na sasa hivi ndio kabisaa unazidi kwenda chini zaidi, labda hatuna wachumi wanaofaaa au wanaingiliwa na wanasiasa kwenye mamauzi yao, lakini something is not right huko BOT na watengeneza uchumi wetu kwa ujumla, ingawa pia cha kushangaza ni kwamba viongozi wetu wakiwa kwenye power wanakuwa na biashara nzito na zinafanikiwa, lakini wakitoka kwenye power tu biashara zinaanza kufa WHY?

Mkuu kufail kwa Bear Sterns ni uzembe wao wenyewe kujiexpose on one asset for more than 50%. People who knows this kind of crisis knew Bear will run out of cash to pay their bills in long run because they don't have deep packet.

Twende kwenye core center, nilipinga report ya Balali alipokuja hna kusema economy yetu imekuwa kwa about 7%, i said that was a lies. Na leo mtu mwenye kujua sources of economy amekuja na kuwaambia kwamba tupo kwenye deep trouble.

Economy yetu ina suffer sababu ya poor policy za serikali and too much double standard regulations ambazo serikali imeziimpose. Kama wafanya biashara wote watalipa tax na BoT itakaa mbali na kukopesha wafanya biashara then we will be fine. Tuiache Bot iwe the last lander of resolution, na sio mkopeshaji kama cormercial bank.

Ni imani yangu kwamba hatuna enough cash kufund that naive growth ambayo Balali alikuwa anahubiri. The next thing watakuja na kusema we don't have enough reserv of dollar au our money is over valued we need to devalue it. Hapo ndio tutakapona what does PESO criss means au Tailand nightmare.

I am still waiting bad news, sababu Ndululu knows alot than we do. Walijaza watoto wa vigogo kwenye center nyeti sasa mambo yanaanza kuback fire. Trust me, haya mambo ya poor monetery system yamezipeleka nchi nyingi sana kaburini. It's our time. Enjoy Free market and globalization movie.

Kumbukeni currency crisis is a nightmare, haya mambo ya kusema Eron sijui Bear Stearn, there is nothing worse compare to currency crisis. Kama EPA account ilibiwa more than Million 300 USD, how much more hii account imebakisha. Jee are we going to run out of dollar? Na kama we going to run out of dollar what will be the implication to the investors who believes kwamba EPA ina dollar za kutosha ndio maana wana invest kwenye nchi yetu. Sasa the time when Ndululu akija na kusema hey guys we're in trouble hatuna dollar za kutosha, guess what will happened kwa Vodacom, Tigo, Barreck, TTCL, Celtel na wengine, they will jump to cash their shilling into dollar and that is the end of our currency.

Tanzania shilling haiko backed with anything lather than promise from our government. Sasa Mafisadi wameiba dollar, na watanzania wengi hawana knowledge ya currency then madhala yake tutayaona soon or later. Mismanagement ya EPA can backfire and make all of us look stupid. I hope all this will never happened, sababu you don't want to see that staff happening to your country.

Bad judgement and poor money monetery ya Balali na wenzie inaweza kutupeleka mahala pabaya sana. Hope gavana will find a simple and smart way kutusaidia bila kuwashitua wawekezaji. Maana ukiwaambia tuu kwamba we're in trouble, its like they smell blood, they will cash their shilling and run away.

I hope tutaanzisha mfumo dume, pamoja na kuvifungilia mbali vi Beur de change mshenzi vyote pale mmjini. Vinachofanya ni kuspeculate price and nothing else, na kuongeza loophole za wezi kama Jeetu Patel.
 
Central Bank Issues First Balance Sheet

East African Business Week (Kampala)

NEWS
24 March 2008
Posted to the web 24 March 2008

By Mohamed Said

Tanzania's central bank has issued its first known balance sheet to be made public, last week prompting speculation that it has embarked on a move to increase its visibility.

The Bank's reputation plummeted after it was linked to the External Payment Arrears (EPA) funds loss worth about US$133million which economists say could have built 1,500 km of tarmac roads, early this year.

The healthy balance sheet shows that the Bank's reserves have drastically jumped from Tsh277.9 billion ($277millions) it had in its coffers by the end of last year to Tanzanian shillings 493.6 billion ($493million) when by last January.

No explanation has been made the reason behind this sudden increase in reserves at the state-owned bank.

Bank sources said the balance sheet is part of public obligations which the institution had to deliver "pursuant to section 21(20 of the Bank of Tanzania Act, 2006."

The report shows that its assets increased from Tsh5,182 billion ($5,180m) by last December to Tanzania shillings 5,401 billion ($5,400m) by end of last January.

The increase had been due to the appreciation of the Bank's "property, plant and equipment", its quota at the International Monetary Fund (IMF) and its foreign currency marketable securities which by the January under review were worth about $1,645million.

In that month, Tanzanian currency in circulation was worth $1,300million, approximately including notes and coins.

The preliminary balance sheet appeared without auditors' comment however.

It is understood that Controller and Auditor General Offices are responsible for the Bank's accounts. Private auditing firms like the Ernst and Young had a stint also which unveiled the EPA anomalies which had grabbed headlines here.

Unajua nilipo fanya hiyo analysis hapo juu, sikuwa nimesoma hii habari, now am getting more scared. OOOOOhhhhh my God twende pamoja kwenye hili swala. I will try kuchambua one statement at the time. Kisha nitakwenda kwenye bot website nikaangalie hiyo Balance sheet waliyo ipublish.

Kama account ilikuwa ina $277 Million mwaka jana na sasa imekwenda to $493 Million hiyo ni more than 40% gain. Where did we get the money to increase the reserv? I know tunaruhusiwa kukopa IMF sababu hiyo ndio kazi yake ya kwanza. But why did we borrow? where did the money go? Balance sheet peke yake doesn't explain anything, we need source and uses of fund statement.

Sasa niliposema am smelling blood mlidhani natania. BoT hawana istoria ya kuwa public. You know why they decide this? I am guessing ni kurestore investors convidence kwamba Bank Kuu have enough dollar to back their shilling?

I think Ndulu knows what they cooking in that Bot Kitchen, again let us cross the fingure things will be fine.

If you want to know about this kind of criss, Angalia Pesso crisis au baht crisis( Thailand).

Unaweza kuingia hapa kuitazama Balance Sheet ya Bank Kuu yetu
http://www.bot-tz.org/Publications/FinancialReports/QuarterlyBalanceSheets/BalanceSheet31Jan2008.pdf

Sasa hebu tuangalie ni kiasi gani cha shilling Bank kuu inacho kulipa bills zake and to maintain economy. There is about 600,000USD Net working capital on hand mpaka january 2008.Sasa swali linakuja kwa nini hawajaweka Balance sheet za Mwaka mzima wa mwaka jana ili tuweze kucompare na kupata picha kamili? The liqudity shows kwamba ratio ni 1.1:1 yaani current asset zetu ziko sawa na current liability. Kwa mtu anayefahamu analysis anajua either in a long run we gonna fail, au tunaitaji data zaidi ili tuweze kufahamu ni nini kinaendelea.

Jamani hizi bank hapo nchi zinaweka % ngapi ya deposit kwenye reserv pale bank kuu?

Hiki ki nusu Balance sheet hakielezi kitu, we need the whole picture. How about 2006-2007 Balance sheet Mh.Ndulu
 
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