Currency Crisis: BoT and MoF, issue a statement!

[Moony]

Sababu ni nying lakini as long as production base yetu iko poor/weak shilingi itapoteza thamani tu.
Uingizaji (importation) ya bidhaa ni kama kawa yaani hata vitunguu na machungwa!

Bureau de change zimejaa kuliko shule, hamna juhudi za kudhibiti foreign currency trade, kodi ya pango na manunuzi mbalimbali hata kulala hoteli ni dola ya mmarekani!
Tumeipa umaarufu wenyewe na mabo yametuzidi!
Nchi zote duniani wan trade na currency zao isipokuwa Bongo! basi na tulie tu labda ifanywe DEVALUATION

 

[HNIC]

it was about tshs 21 trilion. and more than 60%. of that is to be collected from donors' baskets. u will not trust that your government currently has no fund even to pay monthly salaries. I have seen them several times taking shortterm loans from these comercial banks and local tycoons. I dont understand may be this is the way most african governments operate

Whats the figure in USD?

 

[KASHOROBANA]

Whats the figure in USD?

it is almost usd 11.35 bllion

 

[KASHOROBANA]

nimeona serikali ikistrugle katika issue hii ya kupambana na inflation. it has enforced banks and F. Instituions to reduce utoaji wa mikopo I.e. amount ya mkopo kuwa ndogo plus kuwadiscourage wateja I.e. kuongeza vikwazo kwa wakopaji wakilenga kupunguza money circulation kt street.
I think huu ni upuuzi usokifani. jmn hii c ndo kukaribisha unemployment?? na wenyenzcho ndo wataneemeka?? mm hizi economic policies kt tanzania mbona naona km haitawezekana na itaishia kuumizana tu???

 

[HNIC]

it is almost usd 11.35 bllion

This is getying interesting...

So basically budget ya Tz ni 11 billion usd so roughly how much of that is from donor countries?

 

[manyasn]

market forces? ahahahahhahaaa, kukariri kubaya sana, endeleen kusubiri "market forces" kajifunzen tena, tena kwa undan conditions za "market forces", halafu ndo mje kuropoka neno "market forces"

 

[Makupa]

This is the professional answer for those still not aware that we are in market driven economy.

Jf fanatics hardly knows this mkuu

 

[Mipangomingi]

This is the professional answer for those still not aware that we are in market driven economy.

Either you remain quietened or go back to school to find out whats'about "market driven economy"; and what if, the so u call market force results to "public weakness"?

 

[John Mashaka]

The Fx Trader. I suppose you are a currency trader, and without a doubt, you are aware of the fact that, there are so many factors which could lead a currency to depreciate or collapse all together in a matter of days. In the case of Zimbabwe, the country faced hyper-inflation as a result of the political instability it experienced.

The sharp fall of our shilling could be attributed to so many factors. some of which could be combination of many, or a single one. However the primary causes are of currency fall are;-

Country's current account,
Price of commodities in the world markets,
Interest rates,
Lower economic growth,
The rate of inflation
Monetary policies and
Political climate

Any of these factors could send a currency tumbling in a matter of hours. Therefore, many of us could only speculate. Central bank of Tanzania or the treasury so to speak, is the only body that could scientifically highlight to the public the root cause of shilling depreciation

 

[MTAZAMO]

Mkuu unaweza kufafanua fedha za kigeni zitaongezwaje kinguvu?

Kwa mfano ni kuwepo kwa vikwazo rasmi na visivyo rasmi kwa imports ili kupunguza matumizi ya foreign currency.......

 

[HNIC]

One minute tunaambiwa kuwa budget ya Tanzania ni about 11 billion USD na tunaambiwa kuwa more than 60% of that comes from the donor countries ambayo of course we don't know the figure.

On the other hand we've been told kuwa donor countries have withhold budget support funds

Sasa mbona hizi stories haziko straight?

 

[Abunuas]

nadhani huu ni muda wa kuwatumia wataalamu wetu kama akina Professor Lipumba kuokoa uchumi unaodidimia.

It is very strange that in spite of the local currency depreciating by over tzs 70 against the Usd Dollar in short period of only 1 month neither the Bank of Tanzania or th Ministry of Finance has issued a statement to reassure the market and the public in general.
The uncertainty has caused panic and anxiety with the Bank of Tanzania in danger of loosing it credibility.

The suspension of foreign aid has lead to market speculating that the central bank has no muscle to intervene or use other monetary instructions to halt the ralid depreciation. For example the local today depreciated by tzs 7 today due to.panic buying from importers and interbank players speculating.

This is a clear sign that the market is misfunctioning and as a regulator it is your mandate to correct the practice.

In summary you need to assure the public that you are in control and you have enough fire power .

God Bless Tanzania

 

[Kobello]

Kwa mfano ni kuwepo kwa vikwazo rasmi na visivyo rasmi kwa imports ili kupunguza matumizi ya foreign currency.......

Nimekuelewa,
Serikali kupunguza mtumiziya fedha za kigeni inaweza isimanishe kuongea edha za kigeni, ila nimeelewa unamaanisha nini.

 

[Mipangomingi]

Kwa mfano ni kuwepo kwa vikwazo rasmi na visivyo rasmi kwa imports ili kupunguza matumizi ya foreign currency.......

Siyo rahisi hii kwa nchi kama yetu: kwa mfano, mbali ya taratibu nyingine zinazotawala biashara duniani, angalia aina ya products zinazoagizwa kwa wingi. Je unaweza kuzuia uagizwaji wa mafuta, mitambo ya ujenzi, madawa ya binaadamu na mifugo? Vifaa vya ujenzi? Vifaa vya kielekroniki? Vifaa vya umeme? Vifaa vya kimaabara? Vifaa vya shule/chuo? Magari ya Japan je?

Na kwa kuongezea, angalia hizo nchi ambazo kwazo tunaagiza; our trading partners are development partners(donors). Nchi maskini kama haiwezi kamwe kutumia "strategic trade policy" kuzuia imports kutoka china, japan, uk, usa, EU, India, oman, Korea nk. Most of the aid from these DPs are tide-aid, accompanied by specific conditions weakening applicability of domestic policies!

 

[Kibanga Ampiga Mkoloni]

dola 1 sasa hivi inabadilishwa kwa sh ngapi za tanzania

juzi nilinunua kwa 1757.

 

[Fx Trader]

I agree with you. That guy is lost. Even market driven economies are regulated. Have you heard of the Federal Reserve Bank? Fyi it regulates the banking sector of the largest economy in the world.

 

[Fx Trader]

There are short and long term problems with the structure of the economy. If we dont produce and export quality productw abroad than our local currency will continue to depreciate however gradually. However in the ahort term, the government should put I place polcies that encourags exports and discourages import (especially for none essential goods) and at the same time the central bank should step in and stop large banks local and foreign to speculate based on the freeze donor funding.

 

[Fx Trader]

No sign from the Bank of Tanzania!

 

[Sangarara]

The Guys at BOT are very desperate

 

[MchunguZI]

let the market forces detects

Grammatically dead!