What the expiry of US-Saudi petrodollar pact means
Tanzania imports fuel worth an average of $250 million from various countries every month through competitive tendering, according to the Tanzania Association of Oil Marketing Companies. PHOTO | FILE
Dar es Salaam. Saudi Arabia and the United States of America may be thousands of kilometres away from Tanzania, but domestic happenings in the two countries could have a direct impact on the economy of the East African nation.
Recently, various international media outlets were awash with the information suggesting that the 50-year-old petrodollar agreement between Saudi Arabia and the US has not been renewed.
