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Author/Editor:
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Nord, Roger ; Sobolev, Yuri ; Dunn, David G. ; Hajdenberg, Alejandro ; Hobdari, Niko ; Maziad, Samar ; Roudet, Stéphane
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Publication Date:
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February 26, 2009
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Electronic Access:
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Free Full text
(PDF file size is 609KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
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Summary:
In 1985, Tanzania was in severe economic distress, plagued by widespread shortages and high inflation. Agricultural production, the mainstay of the economy, had been declining steadily since the 1970s. Exports of cash crops, which traditionally accounted for the bulk of foreign exchange earnings, had fallen by half between 1970 and 1985. A foreign exchange shortage led to a precipitous drop in imports, which in turn caused a crisis in the manufacturing sector, which lacked raw materials and spare parts. Twenty years later, Tanzania looks radically different. Inflation has declined to single digits. Economic growth is buoyant, averaging 7 percent a year since 2000. Real per capita income has risen by 50 percent. Poverty, while still widespread, is heading downward. Exports are booming, public finances are sound, debt ratios are low, and foreign exchange reserves are ample. This paper is about the remarkable turnaround, the economic policies that contributed to it, and the road ahead because, while much has been achieved, much remains to be done.
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Order a print copy
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English
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Publication Date:
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February 26, 2009
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ISBN/ISSN:
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9781589068223
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Format:
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Paper
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Stock No:
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TSATEA
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Pages:
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79
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Price:
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Price Delivery Note:
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Departmental paper version: sent to print 1/26/09; proof approved 1/27/09; delivered and shipped to Europe 1/29/09. 350 copies were printed for conference; Final Version to be printed later.
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Please address any questions about this title to
publications@imf.org
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