Tanzania: BoT Must Pay Attention to Issues Raised By IMF

Early this year, the Bank of Tanzania (BoT), in its supervisory role, closed down five banks due to unduly low capitalisation, directed the merger of three other banks, and tackled head-on a protracted, viral non-performing loans syndrome. All these were crises-in-the-making that threatened to wreak havoc in the country's banking subsector in particular, and the financial sector in general.

This - in our humble view - is ample testimony to a central bank that is on top of things in performing its mandated obligations. But, this is not to say that the actions taken by BoT have put paid to the woes in Tanzania's banking system; far from that.

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