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7/28/2019 Tanzania_ Billions 'Excluded From the National Debt' Shows Failure of Capitalism
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4/19/13 Tanzania: Billions 'Excluded from the National Debt' shows failure of Capitalism
www.khilafah.com/index.php/analysis/africa/15799-tanzania-billions-excluded-from-the-national-debt-shows-failure-of-capitalism
America Africa Europe Middle East Asia
Tanzania:Billions'ExcludedfromtheNationalDebt'showsfailureofCapitalism
The Citizen reported: The staggering national debt, which stands at TShs 22 trillion does not include all the
money the government owes various creditors, The Citizen has establis hed. If other liabilities are considered, the
size of the national debt would be bigger than what is currently reported.
The report of the Controller and Auditor General (CAG) for the financial year ending on June 30, 2012 shows a
num ber of liabilities which would add to the debt if they were taken into account. These include guarantees
extended by the government to ins titutions and organizations which have no ability to honour their com mitments.
The complex national debt situation is further compounded by the government's failure to consolidate its
accounts to give a clearer picture ofits financial position. [The Citizen Monday, 15 April 2013]
The high level of debt like this is a disaster and a cancer that has settled in our young countries. It is also an
indication of failure by the Capitalist system to solve world economic pro blems as recently witnessed even in
theircountries following the econom ic tragedy in Cyprus.
This situation is a pointer that our young countries even if they pride themselves as being independent, they are
actually not. Instead, they are under the claws of neo-colonialism which w ill continue to devour and des troy the
ordinary public to achieve the interests of the big states through their mul tinational companies.
In such a situation, good life for the ordinary public in these countries under Capitalism is a dream. This is
despite being cheated every five years with the facial change of a ruler for another yet the evil system remains i n
place.
A lasting solution is for mankind to remove the whole Capitalist ideology with its systems be they economic,
political or social. Thereafter, the world wil l be li berated from such calam ities.
Masoud Msellem
Deputy Media Representative
Hizb ut Tahrir East Africa
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