What you need to know:
- Mwinyi say through the central bank, Zanzibar has achieved great strides, so there is a need to keep up the cooperation between the institution and the isles government.
Unguja. Zanzibar’s President Dr Hussein Mwinyi has said that there is a need for the Bank of Tanzania (BoT) to partner with the government to find solutions on how the challenges facing the global economy can be turned into opportunities.
He said through the central bank, Zanzibar has achieved great strides, so there is a need to keep up the cooperation between the institution and the isles government.
"We have developed a good cooperation with the BoT and at all times we have been getting good advice on how to operate Zanzibar’s economy, as we are important stakeholders in the operations carried out by the Central Bank, ," said Mwinyi.
Dr Mwinyi was speaking during his meeting with the newly appointed BoT Governor, Emmanuel Tutuba, who was accompanied by the outgoing governor, Prof. Florens Luoga.
Tutuba was appointed by the President Samia Suluhu Hassan, two weeks ago to replace Prof. Luoga whose tour of duty has come to an end.
For his part, Governor Tutuba said that both Tanzania mainland and Zanzibar governments are there to protect public interests by controlling global inflation caused by the rise in oil prices, which has affected the transport sector in the country.
Also, he commended the two governments for setting plans to mitigate the outcome of caused by global inflation.
The outgoing Governor, Prof. Luoga thanked the isles government for the cooperation they gave him during his tenure as the head of the central bank.