Currency Crisis: BoT and MoF, issue a statement!

NNKOSON · Oct 23, 2014

Maundumula said:
Here they are, the very same critics who who have been against Foreign Aid are now blaming the govt.

I think they have every right to blame the govt. Coz its their poor decisions which are currently affecting us. People want the government to build the economy with strong 3 I's which are Infrastructure, Investment and Institutions, For this will create strong economy with less or No depandance of donors fund. But kind of Budgets proposed which gives priority to unnecesary non development expenditures + poor management of litle money which go to development expenditures...Its like we are destiny to remain in poverty circle.

MchunguZI · Oct 23, 2014

arigold said:
His predictions were right kwa sababu walishakuja chadema & ccm fanatics kutaka ku politicise hii issue.

nashukuru vichwa vimekuja na all is well

Firstly, congratulation to our longtime donors for realising our leaders thieving behaviour. Keep away from our economy so that we see the emptiness of our politicians who have turned travellers.

It is like this my dear, When you control power, you simultaneously control the economy, I mean you manage the economy. CCM controls power and the economy. Anything in shamble should be shouldered by CCM, fortunately their Chairman is at the helm. So, whatever poor performance we experience it's because of them, not CHADEMA, CUF, TLP or any coming political congregation.

CCM who are supposed to manage the economy, they are saboteurs of our economy. I once said CCM is a cartel of unlearned thugs. I am of the opinion that the ignorance among CCM leaders will kill this country soon. They are ignorant people. Look at them, the top; Kikwete, Shen, Kinana, Mangula, Nape. Try lowering your assessment to a regional and district levels, do you find any leader who at least can explain the meaning of trade?

Look at Mwigulu, who claimed to have a higher level degree, 1st class as he put it. Does he seem to know what is happening? A person who can't differentiate industries and factories. Let them learn how those days of being supported endlessly has gone. They should collect taxes. travelling tirelessly, Laughing or smiling, shrugging good questions, etc. will never be any good impression to donors.

MchunguZI · Oct 23, 2014

Maundumula said:
Here they are, the very same critics who who have been against Foreign Aid are now blaming the govt.

Why not? The so called CCM gov't has for years failed to wake-up economic structures. Now what they have done regardless of the fact that they look like a man with no inner pant, they have burned their trousers! What is the situation?

Sangarara · Oct 23, 2014

MchunguZI said:
Firstly, congratulation to our longtime donors for realising our leaders thieving behaviour. Keep away from our economy so that we see the emptiness of our politicians who have turned travellers.

It is like this my dear, When you control power, you simultaneously control the economy, I mean you manage the economy. CCM controls power and the economy. Anything in shamble should be shouldered by CCM, fortunately their Chairman is at the helm. So, whatever poor performance we experience it's because of them, not CHADEMA, CUF, TLP or any coming political congregation.

CCM who are supposed to manage the economy, they are saboteurs of our economy. I once said CCM is a cartel of unlearned thugs. I am of the opinion that the ignorance among CCM leaders will kill this country soon. They are ignorant people. Look at them, the top; Kikwete, Shen, Kinana, Mangula, Nape. Try lowering your assessment to a regional and district level, do you find any leader who at least can explain the meaning of trade?

Look at Mwigulu, who claimed to have a higher level degree, 1st class as he put it. Does he seem to know what is happening? A person who can't differentiate industries and factories. Let them learn how those days of being supported endlessly has gone. They should collect taxes. travelling tirelessly, Laughing or smiling, shrugging good questions, etc. will never be any good impression to donors.

MchunguZI you real know how to describe these daft.

MTAZAMO · Oct 23, 2014

Sangarara said:
Nini hakipo straight?

Hahaha....tatizo wewe unaweza kuona kila kitu kipo wazi lakini huyu anachotaka ni kudadavua nondo kila angle......labda mtamsaidia....

CC Kimweri

Fx Trader · Oct 23, 2014

I totally agree with Mchungu. If the MoF or the Bank of Tanzania was serious or proactive than they would had issued a statement immediately. It seems they dont understand or are some how involved. As I mentioned earlier the state or the fundementals of the economy sid not change in a period of one.month. The mkt closes at 1714*18 today yet the CB was quiet. It clearly shows that our reserves have been depleted by our politicans-all these corrupt leaders have pretty much slhave bankrupted the central bank.

the Deputy Ministry of Finance is known to be close tp the commonman but yet he is quiet. He should had been the first person to instruct the Governer to intervene.

GOD BLESS TANZANIA

Makupa · Oct 23, 2014

Maundumula said:
Here they are, the very same critics who who have been against Foreign Aid are now blaming the govt.

I once said ,Chadema fanatics always support the opposite.

Makupa · Oct 23, 2014

Fx Trader said:
I totally agree with Mchungu. If the MoF or the Bank of Tanzania was serious or proactive than they would had issued a statement immediately. It seems they dont understand or are some how involved. As I mentioned earlier the state or the fundementals of the economy sid not change in a period of one.month. The mkt closes at 1714*18 today yet the CB was quiet. It clearly shows that our reserves have been depleted by our politicans-all these corrupt leaders have pretty much slhave bankrupted the central bank.

the Deputy Ministry of Finance is known to be close tp the commonman but yet he is quiet. He should had been the first person to instruct the Governer to intervene.

GOD BLESS TANZANIA

Dou you think issuing of statement will suffice?

Fx Trader · Oct 23, 2014

Just 5o note 80% of the development budget is funded by donors which is 30% of the total budget. Again it is the wananchi who will suffer the most first by higher cost of living and second lack of access to basic necessities (if any)! Bravo BoT and the government!

Fx Trader · Oct 23, 2014

I dont think it will suffice but we need some clarity. There is alot of speculation I.e. the size of the foreign reserves and what steps will be taken going forward. Ofcourse they need to take concrete steps immediately or else we are all doomed. You remember the 2011 crises? I hope they learnt their lesson.

Kimweri · Oct 23, 2014

HNIC said:
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?

Serikali yetu inafanya kazi kwa ku-withold taarifa kama hizi, ili wanedelee kuwa na power.

Moja,

Budjet ya TZ kuwa $11B hakumaanishi kuwa that is all that will be spent through the financial year, these are mostly estimates, that mostly less than 50% are actually met.

Ukitaka kuona vichekesho nenda wizarani, mara nyingi huomba mafungu ya lets say 100%.,wizara nyingi hupokea chini ya asilimia 30 ya mafungu haya.

hali hii ndio gap unaloliona kwenye donor funding ni kwa sababu TZ governemnt, hu-pledge kiasi flani kwenye bilateral agreement, ila huwa haipeleki fedha zake, so kama funding ya donor ni 60%, that is all that will be allocated, the rest will never see light of day.

Pia, ninaamini budget ya TZ sio yote inatoka kwa donor basket fund also refereed to as global fund,we have other donors like Chinese, Japanese etc, mchango wa hawa mabwana umekuwa ukikua kadri miaka inavyosonga, so kama 60% inategemea donors, maybe 30% inatoka global fund, the rest inatoka kwa other signgiular donors, ams ure chinese wana-account for almost 20-30% of this.

Fx Trader · Oct 23, 2014

I think the funds they have withheld are under the general budget support which goes directly to the government coffers.

keynessian · Oct 23, 2014

Fx Trader said:
I said markets have to be regulated. The volatility in the exchange effects the public good via inflation. In this case since we are a net importer the effect is the even more severe because its easier to for prices to risr than fall.

Good analysis

Fx Trader · Oct 23, 2014

The central bank has lost its credibility! Its very sad that such an important insitution is no more being respected and taken for granted by the market players. The interbank market has become disfunctional and no more reflects the fundementals. Shame on BoT you have lost all your credibility that you had built over the last 5 yrs.

sansiro12 · Oct 23, 2014

Makupa said:
let the market forces detects

Lugha sahihi ni: "Let the market forces dictate"

Jamaa_Mbishi · Oct 23, 2014

Fx Trader said:
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

Viva CCM na uongozi bora wa Kikwete.

Ndinani · Oct 23, 2014

Makupa said:
Bot can only provide short term measure but the truth remains foreign currency regulations is a function of supply and demand

In order to attain economic efficiency markets have to be regulated as well since they are never perfect i.e relying on supply and demand forces only!!

Fx Trader · Oct 23, 2014

POOR LEADERSHIP LEADS TO POVERTY! WELL DONE Ndulu AND MoF!

mbota · Oct 23, 2014

MchunguZI said:
Firstly, congratulation to our longtime donors for realising our leaders thieving behaviour. Keep away from our economy so that we see the emptiness of our politicians who have turned travellers.

It is like this my dear, When you control power, you simultaneously control the economy, I mean you manage the economy. CCM controls power and the economy. Anything in shamble should be shouldered by CCM, fortunately their Chairman is at the helm. So, whatever poor performance we experience it's because of them, not CHADEMA, CUF, TLP or any coming political congregation.

CCM who are supposed to manage the economy, they are saboteurs of our economy. I once said CCM is a cartel of unlearned thugs. I am of the opinion that the ignorance among CCM leaders will kill this country soon. They are ignorant people. Look at them, the top; Kikwete, Shen, Kinana, Mangula, Nape. Try lowering your assessment to a regional and district levels, do you find any leader who at least can explain the meaning of trade?

Look at Mwigulu, who claimed to have a higher level degree, 1st class as he put it. Does he seem to know what is happening? A person who can't differentiate industries and factories. Let them learn how those days of being supported endlessly has gone. They should collect taxes. travelling tirelessly, Laughing or smiling, shrugging good questions, etc. will never be any good impression to donors.

I really appreciate your contribution here, congrats

arigold · Oct 23, 2014

MchunguZI said:
Firstly, congratulation to our longtime donors for realising our leaders thieving behaviour. Keep away from our economy so that we see the emptiness of our politicians who have turned travellers.

It is like this my dear, When you control power, you simultaneously control the economy, I mean you manage the economy. CCM controls power and the economy. Anything in shamble should be shouldered by CCM, fortunately their Chairman is at the helm. So, whatever poor performance we experience it's because of them, not CHADEMA, CUF, TLP or any coming political congregation.

CCM who are supposed to manage the economy, they are saboteurs of our economy. I once said CCM is a cartel of unlearned thugs. I am of the opinion that the ignorance among CCM leaders will kill this country soon. They are ignorant people. Look at them, the top; Kikwete, Shen, Kinana, Mangula, Nape. Try lowering your assessment to a regional and district levels, do you find any leader who at least can explain the meaning of trade?

Look at Mwigulu, who claimed to have a higher level degree, 1st class as he put it. Does he seem to know what is happening? A person who can't differentiate industries and factories. Let them learn how those days of being supported endlessly has gone. They should collect taxes. travelling tirelessly, Laughing or smiling, shrugging good questions, etc. will never be any good impression to donors.

Currency Crisis: BoT and MoF, issue a statement!

Member

Platinum Member

Platinum Member

JF-Expert Member

Platinum Member

JF-Expert Member

JF-Expert Member

JF-Expert Member

JF-Expert Member

JF-Expert Member

JF-Expert Member

JF-Expert Member

JF-Expert Member

JF-Expert Member

JF-Expert Member

JF-Expert Member

Platinum Member

JF-Expert Member

JF-Expert Member

JF-Expert Member

Similar Discussions