Market News
World’s Worst Currency Faces Pain as Tanzanian Imports Boom - BLOOMBERG
By Eric Ombok
Tanzania is one of Africa’s fastest-growing economies, but it may be some time before the local currency benefits.
The shilling has weakened 8.9% this year as of Tuesday, making it the world’s worst-performing currency. That’s as imports and public debt are rising for infrastructure investments that are helping to stoke gross domestic product growth projected at 6% this year. The shilling may see more declines before it recovers.
