Download or read book United Republic of Tanzania Requests for Disbursement Under the Rapid Credit Facility and Purchase Under the Rapid Financing Instrument Press Release Staff Report and Statement by the Executive Director for the United Republic of Tanzania written by International Monetary and published by International Monetary Fund. This book was released on 2021-09-17 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has negatively impacted Tanzania’s macroeconomic outlook, and negatively impacted its population’s health and well-being. Tourism collapsed in the wake of travel restrictions, the economy reportedly decelerated to 4.8 percent growth in 2020, and growth is expected to remain subdued in 2021. The previous government downplayed the presence of the COVID-19 virus in Tanzania and the impact of the pandemic in the country, and budgeted insufficient resources to address the health and economic crisis. This has left the new administration of President Hassan with an enormous and urgent challenge to tackle the COVID-19 pandemic. The new administration is implementing comprehensive plans to immediately address the pandemic, resulting in an urgent balance of payments need.
Download or read book United Republic of Tanzania written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2013-06-19 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tanzania’s economic growth continues to be buoyant. The planned monetary policy tightening is aimed at entrenching gradual disinflation. Executive Directors recommend further enhancing the degree of exchange rate flexibility, and the fiscal deficit reduction envisaged in the draft budget is welcomed. Implementation of the structural reform agenda needs to be reinvigorated. Although the medium-term outlook remains strong, short-term risks to the program are foreseen. There is progress in areas including health, higher education enrollment, and revenue collection, but challenges in poverty reduction remain.
Download or read book United Republic of Tanzania written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2024-06-25 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Context and outlook. Economic growth is recovering from the impact of the unfavorable global economic environment and domestic factors. Growth is expected to continue strengthening, supported by improvements in the business environment and subsiding global commodity prices. Inflation is projected to remain within the central bank’s target range. Growth-friendly fiscal consolidation is underway, anchored by the ECF arrangement, and the current account deficit is narrowing reflecting fiscal consolidation, easing commodity prices, and tight external financing conditions. The medium-term outlook is positive contingent on implementation of the authorities’ reform agenda, anchored by the ECF arrangement. Climate change poses a major threat, as Tanzania is highly vulnerable but not well-prepared to address the effects of climate change.
Download or read book United Republic of Tanzania Request for Disbursement Under the Rapid Credit Facility Press Release Staff Report and Statement by the Executive Director for the United Republic of Tanzania written by International Monetary and published by International Monetary Fund. This book was released on 2021-12-02 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has negatively impacted Tanzania’s macroeconomic outlook. The Tanzanian authorities are implementing a comprehensive emergency pandemic response plan to help mitigate the significant socioeconomic and health effects of the crisis, resulting in an ongoing urgent balance of payments need.
Download or read book United Republic of Tanzania written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-12-18 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unfavorable global economic environment and domestic factors continue to weigh on Tanzania’s economic recovery. Growth rebounded during the first half of 2023 but is expected to slowdown in the second half amid headwinds from a weak global outlook and forex liquidity shortages. Inflation has moderated and is now well within the Bank of Tanzania’s target. The fiscal deficit was wider than expected in FY2022/23, largely reflecting shortfalls in revenue collections. A wide current account deficit for FY2022/23 and tighter external financial conditions resulted in pressures in the foreign exchange market.
Download or read book United Republic of Tanzania written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2014-07-25 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: KEY ISSUES Economic background and outlook. Tanzania has enjoyed strong and stable growth, projected to remain at 7 percent next year and in the medium term. Inflation is at 6 percent, gradually converging to the authorities’ 5 percent medium-term objective. The external current account deficit remains among the largest in the region, at 14 percent of GDP this year. Fiscal revenue shortfalls and overruns in domestically-financed spending led the deficit to rise to 6.8 percent of GDP in 2012/13. Revenue shortfalls in 2013/14 compared to the budget approved by parliament have prompted the authorities to undertake expenditure cuts during the fiscal year in an effort to meet their 5 percent of GDP target. Based on the debt sustainability analysis, Tanzania remains at low risk of debt distress. Recent program engagement. Tanzania concluded its final review under a Standby Credit Facility (SCF) arrangement, together with its Article IV consultations, on April 25, 2014. The SCF expired on April 30, 2014. Key challenges. Over the next three years, policymakers will face several challenges, including the following: • Step up needed investment in infrastructure while protecting critical social spending. These objectives will need to be pursued following careful prioritization, to preserve government debt sustainability. • Prepare for natural gas. If recent discoveries of sizeable offshore natural gas deposits are confirmed as commercially viable, sizable fiscal revenues would need to be managed to bring benefits to all Tanzanians. Against this background, the authorities are requesting a three-year PSI to be in place by the start of FY2014/15. They see the PSI as an appropriate instrument to underpin the close policy dialogue with staff, provide a positive signal to donors and markets, and safeguard policy discipline. Staff supports the authorities’ request for a PSI.
Download or read book United Republic of Tanzania Fourth Review Under the Policy Support Instrument and Request for an Arrangement Under the Standby Credit Facility written by International Monetary Fund and published by . This book was released on 2012 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tanzania's economy experienced adverse supply shocks in 2011. The Fourth Review under the policy support instrument (PSI) discusses that tighter fiscal and monetary policies are addressing the inflationary impact of the drought/energy shock. Performance under the PSI-supported program has been generally satisfactory. All December 2011 and March 2012 quantitative assessment criteria and indicative targets were met, other than the March 2012 floor on net international reserves, which was missed on account of delays in contracting programmed external borrowing.
Download or read book United Republic of Tanzania written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-04-28 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spillovers from the war in Ukraine and shortfalls in rainfall stalled Tanzania’s recovery from the COVID-19 pandemic. Despite fuel and fertilizer subsidies, inflation has picked up in recent months, approaching the Bank of Tanzania’s target. External balances deteriorated significantly last year due in large part to spillovers from the war in Ukraine.
Download or read book United Republic of Tanzania written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-01-31 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tanzania’s fiscal policy has been tightened owing to the deteriorating financing climate and rising inflation. The Bank of Tanzania has tightened its reserve money program for 2011/12, and domestic interest rates have risen sharply since mid-2011. The authorities are expanding Tanzania’s electric power generation capacity and raising electricity tariffs. Tanzania has good prospects as a major producer of natural gas by the end of the decade. The authorities will identify the critical macroeconomic policies and institutions to successfully manage future gas wealth.
Download or read book Liberia written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2020-06-12 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents Liberia’s Request for Disbursement Under the Rapid Credit Facility. The economic impact of the pandemic is hitting the poorest with little social safety net, and food security of those relying on uncertain daily income is a pressing concern. The authorities have responded by taking revenue and expenditure measures to support emergency food aid for the poor; improving monitoring and control of spending; and safeguarding scarce foreign exchange reserves. Preliminary data suggest that performance under the Extended Credit Facility-supported program has been weak, though the authorities are fully committed to address the weaknesses. In order to address the shortage of Liberian dollars and the growing need for more US dollar liquidity, the authorities have contracted the printing of additional Liberian dollar bank notes and are formulating measures for inclusion in the FY2021 budget to augment US dollar liquidity.
Download or read book United Republic of Tanzania written by International Monetary Fund and published by . This book was released on 2008 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tanzania's performance ranks among the best for non-oil exporting countries in sub-Saharan Africa. The 2008/09 budget will aim at maintaining hard-won fiscal stability in the face of large spending needs and uncertain financing. Tighter budget constraints highlight the need to further expand the revenue base and achieve greater efficiency and effectiveness of government spending. Building on its recent success of reining in reserve money growth, the Bank of Tanzania (BoT) will aim to gradually bring down inflation to its medium-term objective of 5 percent.
Download or read book United Republic of Tanzania written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2014-07-24 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: KEY ISSUES Economic background and outlook. Tanzania has enjoyed strong and stable growth, projected to remain at 7 percent next year and in the medium term. Inflation is at 6 percent, gradually converging to the authorities’ 5 percent medium-term objective. The external current account deficit remains among the largest in the region, at 14 percent of GDP this year. Fiscal revenue shortfalls and overruns in domestically-financed spending led the deficit to rise to 6.8 percent of GDP in 2012/13. Revenue shortfalls in 2013/14 compared to the budget approved by parliament have prompted the authorities to undertake expenditure cuts during the fiscal year in an effort to meet their 5 percent of GDP target. Based on the debt sustainability analysis, Tanzania remains at low risk of debt distress. Recent program engagement. Tanzania concluded its final review under a Standby Credit Facility (SCF) arrangement, together with its Article IV consultations, on April 25, 2014. The SCF expired on April 30, 2014. Key challenges. Over the next three years, policymakers will face several challenges, including the following: • Step up needed investment in infrastructure while protecting critical social spending. These objectives will need to be pursued following careful prioritization, to preserve government debt sustainability. • Prepare for natural gas. If recent discoveries of sizeable offshore natural gas deposits are confirmed as commercially viable, sizable fiscal revenues would need to be managed to bring benefits to all Tanzanians. Against this background, the authorities are requesting a three-year PSI to be in place by the start of FY2014/15. They see the PSI as an appropriate instrument to underpin the close policy dialogue with staff, provide a positive signal to donors and markets, and safeguard policy discipline. Staff supports the authorities’ request for a PSI.
Download or read book United Republic of Tanzania Sixth Review Under the Three year Arrangement Under the Poverty Reduction and Growth Facility and Request for a Three year Policy Support Instrument written by and published by . This book was released on 2007 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United Republic of Tanzania Second Review Under the Policy Support Instrument Staff Report Staff Statement Press Release on the Executive Board Discussion and Statement by the Executive Director for Tanzania written by International Monetary Fund and published by . This book was released on 2008-01-11 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United Republic of Tanzania written by and published by . This book was released on 2008 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United Republic of Tanzania Second Review Under the Policy Support Instrument written by David Nellor and published by . This book was released on 2008 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United Republic of Tanzania written by and published by . This book was released on 2005 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
