Barriers to Sustainable Growth and Poverty Reduction

Barriers to Sustainable Growth and Poverty Reduction
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The HIPC consists of thirty-seven developing countries with extreme cases of debt overhang and poverty which qualify for special aid from the World Bank and the International Monetary Fund. One such country is Tanzania. Tanzania has several barriers to combating the implementation of poverty reduction and sustainable growth. These barriers are in essential sectors such as economic distribution, corruption, and population growth (United Nations, 2013). Population growth in Tanzania remains high at virtually three percent annually. With such a growth rate, there will be one-hundred million Tanzanians in 2041 (Credit, 2018).
Corruption is still a looming barrier for Tanzania in terms of good governance and for the country’s social growth. The levels of grand and petty corruption documented in domestic and international surveys raise concern and affect all sectors of the economy from natural resource exploitation to public service delivery, industrial production, and business (Gray, 2015). When it comes to Tanzania’s economic distribution, unemployment rates are high and growing rapidly, especially in urban areas and among youth (Atkinson, 2010). One-third of Tanzania’s employed are identifie...