Tanzania stable and making progress.Two recent Non-Governmental Organization (NGO NGO
Noun 1. NGO - an organization that is not part of the local or state or federal government
nongovernmental organization ) reports provide a fascinating look at one of Africa's more puzzling markets--puzzling in the sense that the country is richly endowed with natural resources, has a stable government and a clearly socially sophisticated population. And yet it is one of the poorest countries in the world.
The social sophistication so·phis·ti·cate
v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates
1. To cause to become less natural, especially to make less naive and more worldly.
2. of its citizens stems from the fact that the country is one of the most ethnically diverse in the world. In spite of that fact, in recent years Tanzania has managed to hold three peaceful multi-party elections to provide a foundation for its growing democracy.
An October 10, 2007 press release from the International Monetary Fund (IMF IMF
See: International Monetary Fund
See International Monetary Fund (IMF). ) presents many positive observations of Tanzania's economy, specifically its recent macroeconomic performance. "Tanzania's economic performance continues to be strong. Fueled by a rebound in the agricultural sector and improved electricity supply, economic growth reached 6,75 percent in 2006/07 and is on track to exceed 7.0 percent in 2007/08." This coexists with a labor force that is made up of 98 percent informal workers.
A May 2007 report from the Organization for Economic Cooperation and Development Organization for Economic Cooperation and Development (OECD), international organization that came into being in 1961. It superseded the Organization for European Economic Cooperation, which had been founded in 1948 to coordinate the Marshall Plan for European (OECD OECD: see Organization for Economic Cooperation and Development. ), though, describes a number of challenges for the country's infrastructure including water, sanitation, and electricity. Corruption is also a major problem.