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Debt Relief in Tanzania a) The economic concept of opportunity cost in Tanzania is relevant because it essentially underlines what is being lost because the country is servicing its debts. Opportunity cost is an economic concept that states that for every resource (except free goods) that is allocated there is an opportunity cost, or in non-economic terms, something, somewhere or somebody loses out because the resources were not allocated elsewhere. The opportunity cost of a country consuming consumer goods is often investment in capital goods. In Tanzania's case, as an economically developing country, the opportunity cost is evidently basic investment in social infrastructure. Education, Health Care, Infrastructure and other such vital things receive very little money because the money that would have been spent on them has to be spent on servicing foreign debt. b) Countries such as Tanzania have serious debt problems because of their attempts to develop economically. In order...

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