Tanzania and her East African neighbours are facing a foreign currency reserve crisis.
President Samia Suluhu Hassan said Tanzania had received requests to offer guarantees for their fuel imports.
She made the remarks on Wednesday while discussing Tanzania’s economic footing.
We have [foreign currency] reserves that can last for four months, our neighbours don’t even have reserves to last for a week.
We have [foreign currency] reserves that can last for four months, our neighbours don’t even have reserves to last for a week.
We are receiving requests [from neighbours] to offer guarantees for fuel imports. I tell them we are in the same situation – although our economy is stronger.”
We are receiving requests [from neighbours] to offer guarantees for fuel imports. I tell them we are in the same situation – although our economy is stronger.”
Mrs Samia said Tanzania’s economy was the most economically stable in the region at the moment.