Tanzania Shows Strong Ability to Pay IMF Loans.
Tanzania has proven it can pay back its loans from the International Monetary Fund. The IMF praised the country in its latest report for always paying on time.
The report shows that Tanzania will need to pay the most money in 2030. But this amount will be small—less than one percent of the country's income.
Tanzania's strong economy helps it pay its debts. Farming, mining, and building projects bring in steady money from other countries. The Bank of Tanzania says the country sold more goods abroad this year. Sales went up by 13 percent to reach 15.5 billion dollars.
Tourism made more money than before. More than two million people came to visit Tanzania last year. The country also sold more gold, tobacco, and cashews to other nations.
Farms did well-selling food to other countries. They made 496 million dollars from vegetables and other crops, which was better than last year.
The ports and roads work better these days, which helps Tanzania make more money from moving goods. The transport business brought in 2.7 billion dollars.
Tanzania's total debt decreased slightly in October to 45.1 billion dollars. About three-quarters of this money comes from loans from other countries.
The IMF thinks Tanzania can handle its loans well. The country has room to deal with money problems if they come up. Tanzania met all its loan goals early, showing it knows how to manage its money.
All these signs point to a bright future. Tanzania can keep paying its debts without hurting its growing economy.
Tanzania has proven it can pay back its loans from the International Monetary Fund. The IMF praised the country in its latest report for always paying on time.
The report shows that Tanzania will need to pay the most money in 2030. But this amount will be small—less than one percent of the country's income.
Tanzania's strong economy helps it pay its debts. Farming, mining, and building projects bring in steady money from other countries. The Bank of Tanzania says the country sold more goods abroad this year. Sales went up by 13 percent to reach 15.5 billion dollars.
Tourism made more money than before. More than two million people came to visit Tanzania last year. The country also sold more gold, tobacco, and cashews to other nations.
Farms did well-selling food to other countries. They made 496 million dollars from vegetables and other crops, which was better than last year.
The ports and roads work better these days, which helps Tanzania make more money from moving goods. The transport business brought in 2.7 billion dollars.
Tanzania's total debt decreased slightly in October to 45.1 billion dollars. About three-quarters of this money comes from loans from other countries.
The IMF thinks Tanzania can handle its loans well. The country has room to deal with money problems if they come up. Tanzania met all its loan goals early, showing it knows how to manage its money.
All these signs point to a bright future. Tanzania can keep paying its debts without hurting its growing economy.
