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Emerging markets

TANZANIA

Shortly after achieving independence from Britain in the early 1960s, Tanganyika and Zanzibar merged to form the nation of Tanzania in 1964. One-party rule came to an end in 1995 with the first democratic elections held in the country since the 1970s. Zanzibar's semi-autonomous status and popular opposition have led to two contentious elections since 1995, which the ruling party won despite international observers' claims of voting irregularities.

GOVERNMENT

chief of state: President Jakaya KIKWETE (since 21 December 2005); Vice President Dr. Ali Mohammed SHEIN (since 5 July 2001); note - the president is both chief of state and head of government
head of government: President Jakaya KIKWETE (since 21 December 2005); Vice President Dr. Ali Mohammed SHEIN (since 5 July 2001)
note: Zanzibar elects a president who is head of government for matters internal to Zanzibar; Amani Abeid KARUME was reelected to that office on 30 October 2005
cabinet: Cabinet appointed by the president from among the members of the National Assembly
elections: president and vice president elected on the same ballot by popular vote for five-year terms (eligible for a second term); election last held 14 December 2005 (next to be held in December 2010); prime minister appointed by the president
election results: Jakaya KIKWETE elected president; percent of vote - Jakaya KIKWETE 80.3%, Ibrahim LIPUMBA 11.7%, Freeman MBOWE 5.9%

ECONOMY

Tanzania is in the bottom ten percent of the world's economies in terms of per capita income. The economy depends heavily on agriculture, which accounts for more than 40% of GDP, provides 85% of exports, and employs 80% of the work force. Topography and climatic conditions, however, limit cultivated crops to only 4% of the land area. Industry traditionally featured the processing of agricultural products and light consumer goods. The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's out-of-date economic infrastructure and to alleviate poverty. Long-term growth through 2005 featured a pickup in industrial production and a substantial increase in output of minerals led by gold. Recent banking reforms have helped increase private-sector growth and investment. Continued donor assistance and solid macroeconomic policies supported real GDP growth of 7.1% in 2008.

East-West Debt