Tag Archives: exchange rates

The Citizen gets suspended. And for what?

The Citizen newspaper was suspended today by the Government of Tanzania, for a period of seven days.

The paper has reported that their front page article from Saturday 23 February was given as the reason for the suspension. Here’s the offending front page:

The Citizen front page, Feb 23, 2019

And here’s the article itself, in image form, as published in the paper:

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Fact-checking the falling shilling: How is Tanzania doing compared with her neighbours?

exchange rates trends Jan-Jun 2015 v2Tanzania’s Finance Minister, Saada Mkuya, said earlier this week that there was nothing the government could do to stop the value of the shilling from sliding against the dollar. The Citizen reported her as saying that all major currencies in Africa are in freefall, thanks to the stronger dollar.

I have looked at the numbers to see whether this claim is correct. Specifically, I have looked at how five different currencies – including the Tanzanian shilling – have lost value against the US dollar since January 2015. The other four currencies are the Kenyan and Ugandan shillings, Zambian Kwacha and Mozambican Metical. Continue reading