Tanzania: Long Term Lending Rates Go Up

LENDING rates for the long term loans exceeding five years increased by 3.25 per cent to 14.24 per cent in the year ending December last year, the situation attributed deteriorating credit to the private sector.

Similarly, lending rates for long term loans of between three to five years increased to 16.73 per cent in the period under review compared to 14.33 per cent recorded in the year earlier. The overall lending rate eased to 15.53 per cent from 16.45 per cent in October last year.

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