Friday, 3 July 2009

Tanzanian "Begging" strategy starts paying dividend

Tanzanian "begging' strategy is starting to bear fruits. Countries and international banks have heeded our "cry for help" and are now opening their purse string to lend us money, pushing our external debt even higher and making Tanzanians even poorer.
Of late, we have channeled our energies singing songs of poverty to any one who cares to listen.
We have gone to the brink of selling our souls for the sake of aid, while very little has been done to stimulate the local economy, manage local resources, close revenue loss loopholes and theft of public funds.
The following are some of "begging" strategy pay offs:
  1. $300 million from the World Bank to help fund an economic stimulus package.
  2. $470 million from the donor community for 2009/2010 budget support.
  3. $39.3 soft loan from China to revamp Tanzania Zambia Railway.
  4. $ 328 million 12 months loan from the International Monetary Fund (IMF) to cushion effects of the global recession.
This is a lot of money in any language. It is my hope that this money will go directly into the intended projects without filtering out into greedy hands.
Tanzania is rich in natural resources, but it is being looted and raped by a few greedy individuals who have enriched themselves at the expense of the fellow countrymen who have grown poorer and poorer.

1 comments:

Anonymous said...

According to Yash Tandon, in his book titled "Ending Aid Dependence" .... aid pretends to be developmental but is not.