TANZANIA’s FALSE ECONOMY
<<Abdulrazak, it is somewhat disconcerting that whilst having known you on the web and impressed by the breadth of your knowledge and experience, I have not had an opportunity to meet with you>>
Sorry for the delayed response. First, the server was down and then the computer had some problems. Just now received it back from the fundi, and the first thing i did was to check the mail. In fact i don't receive all the emails despite activating the 'yahoo group reminder' every now and then, and have to resort to the website to read those emails not received by me.
Anyhow, you'll be highly disappointed. She is right, not only am i shy but also dull and dumb, and hardly socialize. Besides, i've my limitations; at times little knowledge is dangerous. You can check with your brother, we were colleagues in NBC in the seventies. He's a jolly good fellow. We'd great time, daily at 10 in the morning we'd order bhajia & sambharo from Dsm Hotel. I'm happy that he's doing really well; his son Munna seems very smart.
Indeed it's sad that he has decided to leave. See that he revokes his decision.
By the way, the other day i was reading Cynthia Stacey in the Guardian and she'd this to say, i must say i couldn't agree more.
"Personally whenever i hear anyone talking like Mr. Mangula (CCM Secretary General) i feel they're out of touch with reality and view their nation metaphorically speaking more from the rarified angle of a first class airplane seat, as opposed to the more realistic one in the back of a daladala (local buses for commuters)!
"If he really wants figures, the regiments of jobless youths on the streets, without any hope or prospects for the future, are the obvious ones, but what about those unseen?
"If he boards an upcountry bus, and goes deep into the rural areas (or those bits that have roads to get you there)...he'll certainly see lots of 'facts', mostly empty bellied two legged ones."
I'm sure you'll agree with her. She makes a lot of sense.
<<Lot of times, like in Tanzania, the heavy debt is inherited from the previous Government. The inflation rate from being officially 35% (unofficial and real one probably double of that) to 6%pa>>
That's an excellent post, tamara modhama ghee shakkar. We only have to hope that our economy revives on the aspirations that we carry.
The materialistic external factors coupled with abhorrent internal tendencies intent on suppressing economic growth puts us in a very bad shape. The debt inheritance from the previous government is a vicious circle that is difficult to break. It's typical of these third world countries. What is the credibility of a government that fails to pay its debts? In the first instance how should such a situation arise? The loans have to be carefully monitored. Advance/down payments on projects which are often overestimated, irregular disbursements of funds and crooked middlemen and other elements leave the economy in a shambles.
Pardon my ignorance; the ill gotten inflation is beyond me. How can it be mere 6% when everything keeps rising by more than 25% and the income remains stagnant? The bureau of statistics and those economic reports at times churn out incorrect figures. The official figures often mislead and can not be relied upon, and that's the reason people put more trust in the unofficial ones.
The oncoming election campaigns will witness all the presidential aspirants arguing about niceties. We just hope that the elections pass peacefully and economic and political stability prevails in Tanzania.
<<Can't Tanzania finance this out of its own resources?>>
He has explicitly laid his views. In a way he is right in saying what $1m is. Previously we'd auctions which were telecast live and those who could afford donated generously. Also donor countries pledged their assistance for various projects. What is questionable is whether all of that was put into productive use.
Ours is a complex economy characterized by unruly elements. It is a gold mine to a few, a lucrative commercial/trade base within a poor economy. While some grieve about slack business and lower margins there are others who thrive. They have their ways and means.
Lots of investments pour in but Tanzania's trade balance has been in deficit for years. Indeed new structures galore - Kariako, Msasani and all those spots where plots were sought. In western context a good economy contributes to the national income and benefits all. Even those without employment are taken care of by the Social Security. Over here benefits accrue to a few while the masses live below poverty line and receive no benefits.
There is no doubt that President Mkapa has accomplished a lot during his tenure as President but Tanzania must strive to provide its masses a much needed uplift.
|Last updated November 2007||Copyright © Abdulrazak Fazal 2007 - All Rights Reserved|