United Republic of Tanzania:Request For a 40- Month Arrangement Under The Extended Credit Facility —Press Release; Staff Report; And Statement By The Executive Director For The United Republic Of Tanzania

Tanzania’s economy is gradually recovering from the negative effects of the COVID-19.

Volume/Issue: Volume 2022 Issue 269

Publication date: August 2022

ISBN: 9798400215414

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Development - Economic Development , International - Economics , ECF arrangement , IMF emergency financing , interest rate , IMF financial support , financing gap , COVID-19 , Debt sustainability , Debt sustainability analysis , Global , Eastern Europe

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Summary

Tanzania’s economy is gradually recovering from the negative effects of the COVID-19 pandemic. While IMF emergency financing (0.8 percent of GDP) in 2021 helped address fiscal pressures, preserve stability, and finance the authorities’ COVID-19 economic and health response, Tanzania continues to face development and reform challenges to unleash its economic potential. The authorities are seeking renewed Fund assistance to support the country facing protracted balance of payments needs associated with the two external shocks—the COVID-19 pandemic and the war in Ukraine—and to support the authorities’ reform agenda summarized in their Five-Year Development Plan.