IMF Approves Immediate Disbursement of About $153 Million to Tanzania
-
Loading... - Chris Walker
- 25 Apr 2023
- 80 Views
- 0 Like
- 0 Comment
The executive board of the International Monetary Fund on Monday approved the first review of Tanzania's three-year extended credit facility, allowing immediate disbursement of about $153 million in budgetary support, the IMF said in a statement.
The IMF said Tanzania’s economic reform program is progressing well in a challenging global economic environment, but authorities should work to boost domestic revenues, while stepping up structural reforms to streamline bureaucracy and combat corruption.
The decision brings total disbursements under the $1.04 billion loan arrangement approved for Tanzania last year to about $305 million, the IMF said.
"Program performance has been strong. All quantitative performance criteria and indicative targets for December 2022 were met, and two of the three structural benchmarks for December 2022 were completed on time," IMF Deputy Managing Director Antoinette Sayeh said.
Efforts to enhance domestic revenue mobilization and improve spending efficiency would help Tanzania finance priority investment and social spending while safeguarding debt sustainability, she added. Read More…
