World Bank declares once-poor Tanzania a middle-income country
It’s official - Tanzania, though not yet rich, is no longer poor.
The World Bank has declared Tanzania to be a middle-income country.
It says that the average income per person rose to about R18 500 (US$1080) per year in 2020 from about R17 400 (US$1020) per year in 2019.
The Bank downgraded Sudan from a lower-middle-income country to low-income country.
Algeria went from being an upper-middle-income country to be a lower-middle-income country.
Mauritius joined Seychelles as the only two high-income African countries.
The World Bank classifies South Africa as an upper-middle-income country.
The Money Show’s Bruce Whitfield interviewed Lee Kasumba, Host at Africa State of Mind.
Listen to the interview in the audio below.
Mauritius has been declared a high-income country…Lee Kasumba, Host - Africa State of Mind
Tanzania will no longer get the grants and loans they received previously…Lee Kasumba, Host - Africa State of Mind
Mauritius has a per person income of R218 000 (US$12 740) …Lee Kasumba, Host - Africa State of Mind
This article first appeared on CapeTalk : World Bank declares once-poor Tanzania a middle-income country
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