With donor funding withheld after the backlash over October’s election violence, Tanzania has turned to selling part of its gold reserves to shore up a weakened economy.
President Samia Suluhu Hassan has authorised the Bank of Tanzania (BoT) to prioritise internal resource mobilisation to meet fiscal needs. Kitila Mkumbo, the Minister for Planning and Investment, confirmed last Monday in London that the government plans to sell part of its gold holdings to finance infrastructure projects.
