Tanzania Not Alone in Battling Dollarisation

editorial

In a stern manner, the Tanzania government recently reminded the business community that all commercial transactions should be carried out in the local currency, the Tanzania Shilling.

According to a senior finance ministry official, those who contravene this rule should be reported to responisble authorities for punitive action. He further added that dollarisation of the local economy had contributed heavily to the steady weakening of the Tanzania Shilling.

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