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Monday, September 1, 2008

Dar to seek sovereign debt rating

The Dar es Salaam-Morogoro road. Financing development projects through sovereign bond issues will assist Tanzania expand its fiscal space. Photo/FILE


Tanzania will soon seek a sovereign debt rating to enable it issue a sovereign bond in the international marketplace.

The Tanzanian government appears convinced that borrowing money from international markets through a sovereign bond is a better way of raising money than having to resort to heavy domestic borrowing.

Two months ago, Finance Minister Mustafa Mkulo presented to the National Assembly a budget that did not factor in domestic borrowing. More...

[SOURCE: The EastAfrican]

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