Geza Ulole
JF-Expert Member
- Oct 31, 2009
- 58,771
- 78,446
3rd February 10
Tanzania listed among emerging markets in 2010
The Guardian Reporter
Tanzania no longer belongs to the category of a poor third world country, according to the Economist Intelligence Unit.
The western media report has listed the country among 15 African nations which are this year expected to jump out of the poverty stricken group to a better category called the emerging markets.
A Washington DC-based wire service says The Economist Intelligence Unit predicts that 15 of the worlds 20 fastest growing economies in 2010 will be from the African continent.
Eight African countries are headed for the emerging market status, the report says. They include Botswana, Ghana, Kenya, Mozambique, Nigeria, Tanzania, Uganda and Zambia, it says.
It adds that these countries, which account for almost 50 per cent of the regions GDP outside of South Africa, have strong financial markets that are attracting institutional financial investors.
Africas financial systems have continually shown resilience and adaptability, even in the face of the global economic downturn, the report adds.
The Washington DC report comes in the wake of another report saying Tanzania had swung into a trade surplus, albeit through a helping hand.
Tanzania swung to a trade surplus of USD692.8m in October 2009 from a deficit of USD$191.1m in the same month in 2008, according to local media reports.
The reports however say that the performance was partly boosted by balance of payments support by the international Monetary Fund.
THE GUARDIAN
http://www.ippmedia.com/frontend/functions/print_article.php?l=13152
Tanzania listed among emerging markets in 2010
The Guardian Reporter
Tanzania no longer belongs to the category of a poor third world country, according to the Economist Intelligence Unit.
The western media report has listed the country among 15 African nations which are this year expected to jump out of the poverty stricken group to a better category called the emerging markets.
A Washington DC-based wire service says The Economist Intelligence Unit predicts that 15 of the worlds 20 fastest growing economies in 2010 will be from the African continent.
Eight African countries are headed for the emerging market status, the report says. They include Botswana, Ghana, Kenya, Mozambique, Nigeria, Tanzania, Uganda and Zambia, it says.
It adds that these countries, which account for almost 50 per cent of the regions GDP outside of South Africa, have strong financial markets that are attracting institutional financial investors.
Africas financial systems have continually shown resilience and adaptability, even in the face of the global economic downturn, the report adds.
The Washington DC report comes in the wake of another report saying Tanzania had swung into a trade surplus, albeit through a helping hand.
Tanzania swung to a trade surplus of USD692.8m in October 2009 from a deficit of USD$191.1m in the same month in 2008, according to local media reports.
The reports however say that the performance was partly boosted by balance of payments support by the international Monetary Fund.
THE GUARDIAN
http://www.ippmedia.com/frontend/functions/print_article.php?l=13152