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Vol 50 No 25

Published 18th December 2009


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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