Tanzania: Bot Committee Says Loans Still Expensive

Dar es Salaam — The monetary policy committee of the central bank has raised alarm over high interest rates in the wake of implementing measures to offset the negative impact of Covid-19 to the Tanzanian economy.

The team which is part of the Bank of Tanzania's board, chaired by the governor, said in a statement yesterday that the sluggish reduction in the interest rates charged by banks and other financial institutions would economic growth which is already threatened by the coronavirus pandemic

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