The Executive Board of the International Monetary Fund (IMF) has completed the second review of Tanzania’s Extended Credit Arrangement (ECF), leading to an immediate disbursement of approximately $150.5 million in budget support. This decision follows the approval of the ECF Agreement in July 2022, which provided Tanzania with total access of approximately $1,046.4 million. The recent disbursement brings Tanzania’s total access under the agreement to approximately $455.3 million.
The ECF agreement aims to support Tanzania’s economic recovery, maintain macro-financial stability and promote sustainable and inclusive growth. The program focuses on strengthening fiscal space, strengthening the monetary policy framework, strengthening financial sector supervision and advancing structural reforms. It represents a significant commitment by the Tanzanian authorities to implement reforms aimed at achieving sustainable and inclusive growth.
Economic growth in Tanzania is expected to resume from 2023, despite challenges in the global economic environment. [Da Redazione InfoAfrica]
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