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The IMF Executive Board completed the third review of the Extended Credit Facility (ECF) for Tanzania, allowing for an immediate disbursement of about USD 149.4 million for budget support.
The IMF Executive Board completed the third review of the Extended Credit Facility (ECF) for Tanzania, allowing for an immediate disbursement of about USD 149.4 million for budget support.
According to the World Bank, Tanzania’s economy, which relies on tourism, mining, agriculture, and manufacturing, has remained resilient in the face of back-to-back extreme weather events and climate change, driven by a surge in the services sector.
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Economic analysts opine that the Tanzanian economy is progressing thanks to political stability and proactive policies being pursued by the current administration. Also, the country has allowed greater freedom for opposition parties and voice dissent over policy issues unlike in the past. This has helped the western world and the multilateral organizations to cozy towards the East African country and to project it as a role model for other African countries to follow.
