Partnership in Tanzania’s Development Strategy

Tanzania’s development strategy is set forth in the MKUKUTA (2005-2010). It is a successor to the Poverty Reduction Strategy Paper (PRSP) that covered 2000-2004. The MKUKUTA addresses three clusters of outcomes: (i) growth and the reduction of income poverty, (ii) improving the quality of life and social well-being, and (iii) strengthening governance and accountability.

Bank Group Strategy

The Bank’s Board discussed a new Country Assistance Strategy (CAS) for Tanzania on April 24, 2007. The Joint Assistance Strategy for Tanzania (JAST) comprises four parts, which collectively will serve as the World Bank Group CAS for FY07 to FY10. Part I is the national medium-term framework established by Government for managing development co-operation with its Development Partners (DPs) so as to improve the collaboration in achieving national development and poverty reduction goals. In discussion of the draft JAST, Government and DPs agreed on the need for further joint work on parts II-IV below, engaging the entire DP community and focusing on the Government’s own planning process, the MTEF in particular. The appropriate balance of roles between Government and DPs in the JAST and wider planning process has been a fruitful area of dialogue, under continuing review through the Government-led JAST Working Group. Part II and Part III are the Joint Program Document (JPD) developed in consultation with Government by the Development Partners Group (DPG) as a response to Tanzania poverty reduction strategies (MKUKUTA for mainland Tanzania; MKUZA for Zanzibar) and the JAST. Part II is a joint country analysis describing Tanzania’s development achievements and challenges. Part III is the joint program part, reflecting DPG planned support and aid effectiveness commitments to Tanzania over the 4 remaining years of MKUKUTA, FY07–10. The World Bank Group (WBG) Part IV describes the WBG’s strategic approach and proposed program over support over the FY07-10 period (advice, analytic work and financing, both ongoing and planned). Based on the Results Matrix for all DPs in Part III, Part IV also includes a WBG specific results matrix with milestones that facilitate monitoring of progress during the FY07-10 period.

The Bank is supporting implementation of the MKUKUTA through its full range of instruments, including general and sectoral budget support, project support, analytic and advisory activities, guarantees, and equity investments by IFC.

General budget support is provided in the form of Poverty Reduction Support Credits (PRSCs), jointly with a group of 13 other donors. There is joint performance assessment and a common review process. Tanzania’s first PRSP was supported through a series of three PRSCs (2003-2005). After the finalization of Tanzania’s second PRSP, the Bank together with the other budget support donors developed a new Performance Assessment Framework based on Tanzania’s new PRSP. Its implementation is expected to be supported by the Bank through a series of five PRSCs, the first and second of which (PRSC-4 and PRSC-5) were approved by the Bank’s Board of Executive Directors on May 9, 2006 and April 24, 2007. It covers six focus areas. These are the three clusters of the MKUKUTA (i.e., growth and the reduction of income poverty, improvements of quality of life and social well being, and governance and accountability), macroeconomic stability, resource allocation and budget consistency, and public financial management. The most recent annual review of general budget support to Tanzania was held in November 2007.

In the social sectors, the Bank provides support through a sectoral development policy credit and grant for secondary education (US$150 million each), the third and last tranche (US$50million) of which is expected to be disbursed in FY07. The objectives are to improve education, expand school access, and increase retention at both primary and secondary levels. Bank support has already facilitated a significant increase in school enrollments. In April 2007, the Board approved a credit for US$42 million to support the education improvement project for Zanzibar. The objectives of the program are to improve completion on lower secondary education including achieving better examination results. This will be facilitated through construction of secondary schools, laboratories and facilities for teacher training, by providing in-service mathematics and science training to teachers, and making text books in core subjects available to all primary secondary schools in Zanzibar. After the focus on primary and secondary education, in FY08 the Bank will also support reforms of higher education and science and technology in Tanzania through a proposed credit in the amount of US$100 million. The Bank contributes to the health sector multidonor “basket fund,” which supports sector reforms and funds nonwage expenditures. In July 2007, the Board approved an additional US$ 60 million to scale up the second phase Health Sector Development Project (US$ 65 million). A multisector HIV/AIDS project supports Tanzania’s efforts to reduce HIV transmission and mitigate the adverse consequences of AIDS. In the water sector, one project supports technical, commercial, and financial rehabilitation of the water supply and sanitation services in Dar es Salaam. Another supports access to improved and sustained water and sanitation services in rural communities. A new Water Sector Support Program project (US$200 million) was approved by the Board in February 2007. It supports GoT’s strategy for improving governance of water resources management and sustainable delivery of water supply and sanitation services. The objective of the IDA-funded Tanzania Social Action Fund (TASAF) is to enhance the capacities of communities and other stakeholders to prioritize, implement, and manage sustainable development initiatives and in the process improve socioeconomic services and opportunities. The Bank’s Board approved the Tanzania Second Social Action Fund (US$150 million) on November 30, 2004, to continue the successful outcomes from TASAF-1.

In the agriculture sector, the Bank’s Board approved in FY06 a project to support Tanzania’s Agriculture Sector Development Program. In addition, the Participatory Agricultural Development and Empowerment Project Credit supports investments in technologies to reduce soil fertility decline.

A Forest Conservation and Management Project helps the government implement policy, particularly by building a framework for long-term sustainable management and conservation of Tanzania’s forests. The Marine and Coastal Environment Management Project, aims to strengthen the management of the marine and coastal environment. In FY09, the Bank is expected to approve the multi-country (Tanzania, Uganda, Kenya, Rwanda and Burundi) Lake Victoria Environmental Project II which aims to support regional efforts to improve management of the Lake Victoria ecosystem.

Efforts to improve Tanzania’s infrastructure are supported by road and railway projects. In April 2004, the Bank’s Board approved a credit of US$122 million for the Central Transport Corridor Project (CTCP) to (1) upgrade strategic road links, (2) enhance road management capacity, and (3) improve the operations of Tanzanian Railways (TRC and TAZARA). In FY08, Bank support to the transport sector is expected to continue by a credit of US$190 million for CTCP-II. The policy dialogue is now helping prepare a new Road Act, which will be the basis for strengthening the policy and institutional framework for road building and maintenance.

The Bank has also helped the government implement the Power Sector Restructuring Program. It has encouraged the government to build the domestic gas market and generate lower-cost power through the Songo Songo Gas Development and Power Generation Project, and is currently assisting the government in implementation of the Financial Recovery Plan for TANESCO and the development of a medium to long term strategy for the energy sector, which will provide the basis for further investment support. Another credit of US$105 million was approved in December 2007 to improve the quality and efficiency of the electricity service provision in the three main growth centers (Dar es Salaam, Arusha, and Kilimanjaro). A credit to improve access to ICT as part of a multi-country operation is under preparation for presentation to the Board in FY09.

The Local Government Support Project (US$150 million) is designed to strengthen fiscal decentralization, improving accountability in the use of local government resources, and improving management of intergovernmental transfers. Other project objectives are to increase access to infrastructure and services in unplanned areas of Dar es Salaam and improve revenue performance for sustainable operations and maintenance.

In December 2005, the Board approved a private sector competitiveness project to support Tanzania’s efforts to create an enabling environment for its private sector and enhance its competitiveness; the focus is on micro-, small, and medium enterprises. The project will support Tanzania’s Business Environment Strengthening (BEST) program, help set up computerized land and business registries, support judicial reform, and develop the financial sector.

An accountability, transparency, and integrity project was approved by the Board in May 2006. The project contributes to improved access to judicial and legal services and the accountable and transparent use of public financial resources. This will be achieved by improving the skills and systems to deliver judicial/legal services and public financial management, and strengthening the capacity of oversight institutions to perform their role. In September 2007, the Board approved a credit of US$40 million to support the second phase of the Public Sector Reform Program to enhance capacity, performance, and accountability of the government in the use of public resources and service delivery.

The International Finance Corporation’s (IFC) strategic focus in Tanzania is on the financial, agribusiness, tourism, infrastructure and SME sectors. Recent activities include a US$10 million investment in Bonite Bottlers, a carbonated soft drinks manufacturer, a US$5 million Exim Bank trade facility, and a US$5 million Tier II facility to Stanbic Tanzania. At present, the Multilateral Investment Guarantee Agency (MIGA) has no exposure in Tanzania and no projects planned.

Tanzania joined the World Bank Group in 1962. Beginning with an IDA credit for education in 1963, it has received a total of US$6.9 billion (US$6.2 billion from IDA) in credits, loans and grants from the World Bank. Total disbursements amounted to US$5.7 billion as of April 30, 2008 (US$5.1 billion from IDA, US$356 million from the IBRD, and US$241 million in IDA grants). Currently, the portfolio comprises 22 active projects, with commitments of US$1.8 billion, in all major sectors; the undisbursed balance is US$1.2 billion.

Statement of Loans, Credits, and Grants (As of April 30, 2008; U.S. dollars)

Source: World Bank Group

Statement of Loans, Credits, and Grants (As of April 30, 2008; U.S. dollars)

	IBRD	IDA Credits	IDA Grants	Total
Original Principal	362,109,400	6,254,909,500	274,400,000	6,891,418,900
Cancellations	5,477,944	267,388,910	0	272,866,854
Disbursed	355,552,456	5,120,241,842	241,429,555	5,717,223,854
Undisbursed	0	1,182,939,225	47,295,917	1,230,235,141
Repaid	355,462,456	3,771,952,950	0	4,127,415,406
Due	0	1,746,064,073	0	1,746,064,073
Exchange Adjustment	0.01	-31434079.53	0	-31434079.52
Borrower Obligation	0	1,714,629,994	0	1,714,629,994

Source: World Bank Group

View Table

Statement of Loans, Credits, and Grants (As of April 30, 2008; U.S. dollars)

	IBRD	IDA Credits	IDA Grants	Total
Original Principal	362,109,400	6,254,909,500	274,400,000	6,891,418,900
Cancellations	5,477,944	267,388,910	0	272,866,854
Disbursed	355,552,456	5,120,241,842	241,429,555	5,717,223,854
Undisbursed	0	1,182,939,225	47,295,917	1,230,235,141
Repaid	355,462,456	3,771,952,950	0	4,127,415,406
Due	0	1,746,064,073	0	1,746,064,073
Exchange Adjustment	0.01	-31434079.53	0	-31434079.52
Borrower Obligation	0	1,714,629,994	0	1,714,629,994

Source: World Bank Group

Bank-Fund collaboration in specific areas

The IMF and World Bank staffs collaborate closely in supporting Tanzania’s structural reforms. As part of its assistance—through lending, country analytic work, and technical assistance—the Bank, in collaboration with the Fund, supports policy reforms in the following areas:

• Public expenditure management. Improvements in public expenditure management have been a top priority of the Tanzanian government since 1995. The Bank, the Fund, and other donors have worked closely to give the government needed support for institutional and policy reforms. The Fund is leading the dialogue on fiscal policy; the Bank concerns itself with strategic resource allocation and operational efficiency of public expenditures. To enhance strategic resource allocation and operational efficiency, the Bank is supporting a government-led, participatory public expenditure review/medium-term expenditure framework (MTEF) process. This effort has helped to strengthen and open up the budget process and the allocation of resources to pro-poor priority areas. The Bank is also involved in the fiscal decentralization process through analytical work and the Local Government Support Project. The Bank and the Fund work together to support institutional budget and expenditure management reforms. The annual Bank-led Public Expenditure and Financial Assessment Report (PEFAR)—the most recent one finalized in October 2007—is the main instrument for the donor community to assess progress in these areas. It also integrates the assessment of Tanzania’s financial management and procurement systems, which previously had been assessed through separate Country Financial Accountability Assessment and Country Procurement Assessment Reports.

• Tax policy and administration reform. The Bank and the Fund have, over the past few years, cooperated closely to support the government’s efforts to modernize the tax system and enhance domestic revenue collection. The Fund has taken the lead in reforms of tax policy; the Bank has taken the lead in reforms to strengthen tax administration.

• Financial sector reforms. Tanzania has instituted far-reaching reforms in the financial sector with strong support from both the Bank and the Fund. Besides contributing to the policy dialogue, the Bank has provided significant technical assistance for financial sector reforms, primarily through two financial institution development projects that support government withdrawal from banking and nonbanking financial institutions while strengthening financial sector supervision. Among successful outcomes of these reforms are the privatization of Tanzania’s largest bank and the entry of a fairly large number of international banks into the Tanzanian market. The Bank has also been involved in reform of the capital and securities authority, reform of pension systems, and liberalization of capital accounts. Through a separate project, the Bank supports the development of rural and microfinance services. A joint Bank-Fund Financial Sector Assessment Program (FSAP) was completed in June 2003. The recommendations of the FSAP have been incorporated into a reform strategy document for the financial sector. The Bank and the Fund have been allocated specific donor responsibilities in implementing the strategy document and have been active in coordination of the implementation process, including donor coordination.

• Public service reform and improved service delivery. In recent years, the government of Tanzania, with support from the Bank and other donors, has launched a number of major initiatives to improve performance and increase accountability, transparency, and integrity in the public sector. Among them are (i) the Public Service Reform Program (PSRP); (ii) the Local Government Reform Program; (iii) the Public Finance Management Reform Program; (iv) the National Anti-Corruption Strategy and Action Plans for Tanzania; (v) the National Framework on Good Governance, delineating a comprehensive approach to improving governance; (vi) the establishment of a Good Governance Coordination Unit in the president’s office; and (vii) the launch of the Legal Sector Reform Program. The PSRP has been central to these reforms because its objective is to improve the accountability, transparency, and resource management of service delivery. The reforms are closely linked with other major reforms in public finance and decentralization. The PSRP aims to transform public service into a service that has the capacity, systems, and culture for client orientation and continuous improvement. Cooperation between the Bank and the Fund covers those areas where public sector reform directly affects fiscal stability and public sector financial management.

• Energy sector. The Bank and the Fund are working closely to find ways to address the crisis in the energy sector. The Bank takes the lead in assisting the authorities with developing emergency power generation plans to alleviate power supply shortages.

• Trade reforms. The Bank and the Fund are working closely to help Tanzania establish a pro-growth trade program. Within the context of the Integrated Framework, the Bank led the preparation of a Diagnostic Trade Integration Study that was issued in July 2005. The Bank will carry out follow-up trade and competitiveness analytical work in the coming years, possibly through the soon–to–be-established Multi-Donor Trust Fund for Mainstreaming Trade. The Bank is working toward trade expansion though its regional trade facilitation project. It is also active at the regional level in the dialogue on trade reforms within the East African Community.

World Bank Lead Economist: Paolo Zacchia

National accounts

National accounts statistics for mainland Tanzania are prepared by the National Bureau of Statistics (NBS) on the basis of data collected by its regional offices and by other government entities. Separate accounts for Zanzibar are compiled by the Office of the Chief Government Statistician for Zanzibar. The data sources for compiling the estimates for Tanzania by expenditure category, the external sector data, and the indicators used to extrapolate benchmark production levels suffer from deficiencies that complicate estimation of savings-investment. The accounts are based on the 1993 System of National Accounts (1993 SNA) and are published at current and constant (2001) prices. Annual GDP estimates are also compiled at current prices for 21 regions. To improve the quality of the national accounts, the authorities, with help from donors, changed the base year of the national accounts from 1992 to 2001. The revised series are based on the Household Budget Survey (HBS) 2000/01, Integrated Labor Force Survey 2000/01 and Annual Survey of Industrial Production 1999/2000. The revised annual national accounts series were finally published in September 2007. A November 2007 East AFRITAC mission provided training and assistance in the compilation of quarterly national accounts (QNA), which have been compiled at current prices since 2001 but have not been yet released. QNA will be estimated from 2001 to 2007. Nevertheless, the series have some methodological shortcomings, and in particular suffer from poor source data in the retail and wholesale sector.

Prices

The NBS compiles a monthly consumer price index (CPI) for mainland Tanzania based on consumer expenditure in 20 urban centers, and a separate price index (urban) is compiled for Zanzibar. The CPI has, since September 2004, been compiled (retroactively to January 2003) using weights based on the 2000/01 HBS data. Key changes were a reduction in the weight given to food from 71 percent to 56 percent and an expansion of the number of products. The index excludes imputations for the price changes of owner-occupied housing. However, methodological problems that may have understated inflation led to the release of a revised CPI from September 2006, though this has not been backdated. The results of a new HBS are expected to be available in 2008, which should eventually lead to revision of the CPI weights.

Government finance statistics

The authorities provide Fund missions with monthly data on central government revenue, expenditure, and financing on a timely basis. Although the underlying concepts broadly follow the Government Finance Statistics Manual 1986, the reporting differs from international standards in coverage and the treatment of lending minus repayments, and transfer payments. Coverage of data on the operations of the central government refers to Tanzania mainland only—recently the Ministry of Finance of Zanzibar established a unit tasked with developing a fiscal reporting framework for Zanzibar. The data also exclude the operations of extra-budgetary units and funds. Data for general government are not available as no information is yet provided on the financial position of local governments, although the authorities have stated their intention to produce such reports.

Despite improvements in the recording of government transactions, discrepancies remain between revenue and expenditure data, on the one hand, and financing data. The discrepancies are related to the lack of a fully integrated set of accounts and the delineation of the public sector and its sub-sectors, differing source data, and timing differences.

The Ministry of Finance created a database of donor-funded projects in 2001/02 (July-June), with donor assistance. Since then, the number of foreign-financed projects reported by and channeled through the budget has increased significantly.

The government has completed the computerization of its accounting system for budgetary units. Although the authorities indicated that it would allow resumption of reporting in the Government Finance Statistics Yearbook (GFSY), no data were reported for the 2007 GFSY. The computerized accounting system does not yet provide details about donor funded development expenditure and has not yet been extended to cover the extra-budgetary units. The authorities regularly report fiscal data for inclusion in the IFS.

Monetary statistics

The monetary statistics are broadly adequate for policy and analytical purposes. Nevertheless, the December 2006 and January 2008 missions confirmed earlier findings of methodological problems, such as (a) exclusion of some deposit-taking financial institutions from the institutional coverage of depository corporations survey, (b) arbitrary application of the residency criterion by the other depository corporations (ODCs), (c) inadequate subdivision of the resident sector data, (d) misclassification of certain accounting data among statistical aggregates, (e) discrepancies between reported interbank positions, (f) nontransparent treatment of repurchase agreements, and (g) key information gaps in the bank reporting system.

To address these problems, recommendations were made to improve the following definitions: net international reserves, foreign assets, foreign liabilities, loans to other resident sectors, claims on the central government, government deposits, central bank liabilities to commercial banks, and deposits included in broad money. The missions also recommended (a) introducing the standardized report forms—1SR for central bank’s accounts and 2SR for ODCs’ accounts to be reported to the IMF; (b) that two new schedules for reporting of data by commercial banks be introduced to fully satisfy compilation needs, in particular with respect to the sectoral breakdown and application of residency criterion in the classification of financial instruments used by the ODCs in their activities; and (c) the expansion of the ODCs to include other deposit-taking financial institutions, such as Tanzania Investment Bank, Tanzania Postal Bank, Twinga Bancorp Limited, Mufindi Community Bank, and Mwanga Community Bank.

Also, the January 2008 mission conducted a workshop for deposit-taking financial institutions that focused on the sectorization, classification, and valuation issues, as well as the procedures for reporting data to the BOT. During the workshop, in addition to two new schedules and guidelines for their completion, the banks’ representatives were provided with, the lists of the public nonfinancial corporations, central government units, local government units, financial institutions, and validation tools to improve the sectoral classification and consistency of the data between the balance sheet and schedules.

Balance of payments statistics

Foreign trade data are prepared by Fund staff missions on the basis of customs data provided by the Bank of Tanzania (BOT), which in turn are compiled by the Tanzania Revenue Authority (TRA) based on customs records. A balance of payments statistics mission in May 2002 found continued and significant under-recording of trade and a dearth of information on services. The authorities acknowledged these problems in their response to the data ROSC report published in March 2004 and indicated that the BOT plans to commission a joint study by the NBS and the TRA to determine the magnitude of underrecorded trade and design an appropriate method of estimation. Re-exports are now included in trade data. Balance of payments statistics are reported annually to STA for publication in the IFS, along with the annual International Investment Position (IIP).

Tourism revenues are estimated using the model that was developed from the International Visitor’s Exit Survey conducted in 2001. Using the model and subsequent annual surveys, estimates have been made for 2001 through 2005. Information on official grant and loan receipts is prepared by Fund staff based on contacts with official agencies. The data on current and capital transfers (grants) are estimates, based on data provided by the Ministry of Finance and United Nations Development Program projections. Disaggregation of the data has improved, but more work is needed including on the coverage and periodicity of data.

Data on private “financial” flows are scarce. Some information on private banking sector flows can be derived from the monetary survey, but private “financial” flows are not adequately captured through the International Transaction Reporting System and are largely reflected in “errors and omissions.” However, the authorities have made commendable progress in collecting information on certain components. The results of the Private Capital Flows Survey for 2000 and 2004 have now been incorporated into the balance of payments and IIP accounts, which improved estimates of foreign direct investment inflows as well as dividend payments and distributed branch profits. The Private Capital Flows Survey is designed to capture information on foreign direct investment and also asks investors to report committed and projected (for the near future) direct investment flows.

Data on the gross and net official reserves of the Bank of Tanzania are provided monthly with a short lag, and are available to the Fund with higher frequency on request. Similarly, data on the foreign assets and liabilities of the banking system are provided with relatively short lags.

Significant improvements in the quality of external debt data have been made in the context of the creditor reconciliation exercise under the HIPC Initiative. At present, all multilateral and Paris Club debts (accounting for about 80 percent of total external debt) have been fully reconciled. However, less progress has been made in reconciling debt owed to other bilateral and commercial creditors. Information on external debt not guaranteed by the public sector, mostly private sector debt, is also limited and not captured in a timely manner.

East AFRITAC has provided assistance in international investment position statistics, most recently in March 2007. The missions have worked on training, questionnaires, and revised guidelines for international transaction dealers.

Tanzania: Table of Common Indicators Required for Surveillance

(As of end-April 2008)

¹Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.

²Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

³Foreign, domestic bank, and domestic nonbank financing.

⁴The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

⁵Including currency and maturity composition.

⁶Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA)..

⁷Reflects the assessment provided in the data ROSC published March 23, 2004 and based on the findings of the October 8–23, 2002 mission for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).

⁸Same as footnote 7, except referring to international standards concerning source data, statistical techniques, assessment and validation of source data, assessment and validation of intermediate data and statistical outputs, and revision studies

Tanzania: Table of Common Indicators Required for Surveillance

(As of end-April 2008)

	Date of latest observation	Date received	Frequency of data6	Frequency of reporting6	Frequency of publication6	Memo Items:
						Data Quality–Methodological soundness7	Data Quality Accuracy and reliability8
Exchange Rates	Jan. 2008	Mar. 2008	M	M	M
International Reserve Assets and Reserve Liabilities of the Monetary Authorities1	February 2007	March 2007	D, M	D, M	M
Reserve/Base Money	Jan. 2008	Mar. 2008	M	M	M	LO, LO, LO, LO	LO, O, O, O, LO
Broad Money	Jan. 2008	Mar. 2008	M	M	M
Central Bank Balance Sheet	Jan. 2008	Mar. 2008	M	M	M
Consolidated Balance Sheet of the Banking System	Jan. 2008	Mar. 2008	M	M	M
Interest Rates2	Jan. 2008	Mar. 2008	M	M	M
Consumer Price Index	Jan. 2008	Mar. 2008	M	M	M	O, LO, O, LO	LNO, LNO, LNO, O, O
Revenue, Expenditure, Balance and Composition of Financing3–General Government4	…	…	…	…	…	LNO, LNO, LNO, LO	LO, O, O, LO, O
Revenue, Expenditure, Balance and Composition of Financing3–Central Government	March 2007	May 2007	M	M	Q
Stocks of Central Government and Central Government-Guaranteed Debt5	October 2007	January 2008	M	M	A
External Current Account Balance	2006	July 2007	A	A	A	LO, LO, LO, LO	LO, LNO, O, LNO, LNO
Exports and Imports of Goods and Services	April 2007	May 2007	M	A	A
GDP/GNP	2005	May 2006	A	A	A	LO, LO, LO, LO	LNO, LNO, O, LO, LO
Gross External Debt	June 2006	September 2006	M	M	A

¹Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.

²Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

³Foreign, domestic bank, and domestic nonbank financing.

⁴The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

⁵Including currency and maturity composition.

⁶Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA)..

⁷Reflects the assessment provided in the data ROSC published March 23, 2004 and based on the findings of the October 8–23, 2002 mission for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).

⁸Same as footnote 7, except referring to international standards concerning source data, statistical techniques, assessment and validation of source data, assessment and validation of intermediate data and statistical outputs, and revision studies

View Table

Tanzania: Table of Common Indicators Required for Surveillance

(As of end-April 2008)

	Date of latest observation	Date received	Frequency of data6	Frequency of reporting6	Frequency of publication6	Memo Items:
						Data Quality–Methodological soundness7	Data Quality Accuracy and reliability8
Exchange Rates	Jan. 2008	Mar. 2008	M	M	M
International Reserve Assets and Reserve Liabilities of the Monetary Authorities1	February 2007	March 2007	D, M	D, M	M
Reserve/Base Money	Jan. 2008	Mar. 2008	M	M	M	LO, LO, LO, LO	LO, O, O, O, LO
Broad Money	Jan. 2008	Mar. 2008	M	M	M
Central Bank Balance Sheet	Jan. 2008	Mar. 2008	M	M	M
Consolidated Balance Sheet of the Banking System	Jan. 2008	Mar. 2008	M	M	M
Interest Rates2	Jan. 2008	Mar. 2008	M	M	M
Consumer Price Index	Jan. 2008	Mar. 2008	M	M	M	O, LO, O, LO	LNO, LNO, LNO, O, O
Revenue, Expenditure, Balance and Composition of Financing3–General Government4	…	…	…	…	…	LNO, LNO, LNO, LO	LO, O, O, LO, O
Revenue, Expenditure, Balance and Composition of Financing3–Central Government	March 2007	May 2007	M	M	Q
Stocks of Central Government and Central Government-Guaranteed Debt5	October 2007	January 2008	M	M	A
External Current Account Balance	2006	July 2007	A	A	A	LO, LO, LO, LO	LO, LNO, O, LNO, LNO
Exports and Imports of Goods and Services	April 2007	May 2007	M	A	A
GDP/GNP	2005	May 2006	A	A	A	LO, LO, LO, LO	LNO, LNO, O, LO, LO
Gross External Debt	June 2006	September 2006	M	M	A

¹Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.

²Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

³Foreign, domestic bank, and domestic nonbank financing.

⁴The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

⁵Including currency and maturity composition.

⁶Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA)..

⁷Reflects the assessment provided in the data ROSC published March 23, 2004 and based on the findings of the October 8–23, 2002 mission for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).

⁸Same as footnote 7, except referring to international standards concerning source data, statistical techniques, assessment and validation of source data, assessment and validation of intermediate data and statistical outputs, and revision studies