Tanzania: BOT Discourages Cash Economy

THE Bank of Tanzania (BoT) has said narrow financial structure in the economy is one of the major reasons for a huge amount of money being transacted in the informal sector, hindering smooth implementation of the monetary policy.

The Central Bank Director of Economic Research and Policy, Dr Joseph Massawe, said in an interview over the weekend that the cash budget economy also contributes greatly to massive money transactions in the informal sector.

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