Tanzania’s gold, dollar reserves reach $5.5b

Gold bars. Tanzania accumulated $5.5 billion worth of gold and dollar reserves by the first half of 2019/2020. PHOTO | FILE | NATION MEDIA GROUP

Tanzania accumulated $5.5 billion worth of gold and dollar reserves by the first half of 2019/2020, covering more than six months of imports.

The country’s benchmark is at least four months’ reserve of imports cover, while for EAC is four and a half months and SADC six months of import cover.