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Banking on it

The credibility of the Tanzanian government's reform drive depends mostly on the Governor of the Bank of Tanzania, Benno Ndulu. The country is suffering both from a financial meltdown, which the government initially underplayed, and from a half-hearted crackdown on graft. Ndulu took over the BoT two years ago with a brief to staunch the losses arising from a multimillion-dollar foreign exchange fraud and to push through wholesale reforms. His policies are starting to work: some fraudsters face prosecution, although many more have got away with it....

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Banking on it

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