The IMF Executive Board has completed the third review of the Extended Credit Facility (ECF) for Tanzania, allowing for an immediate disbursement of about US$ 149.4 million for budget support.
The completion of the third review allows the immediate disbursement of about US$ 149.4 million, bringing Tanzania’s total access under the ECF to about US$ 606.4 million.The Executive Board also approved a six-month extension of the ECF to May 2026 and a rephasing of access to give sufficient time to the authorities to implement their reform agenda and realize the program’s key objectives.The Executive Board also approved Tanzania’s request for an arrangement under the Resilience and Sustainability Facility (RSF) of about US$786.2 million.“Tanzania’s performance under the reform program supported by the Extended Credit Facility (ECF) has been strong. The program focuses on strengthening the economic recovery, preserving macroeconomic stability, and supporting sustainable and inclusive growth. The authorities’ strong commitment to their reform agenda will remain important amid downside risks,” said Mr. Li, Deputy Managing Director and Acting Chair.
The RSF will support Tanzania’s reform efforts to implement climate policy reforms that address risks and challenges associated with climate change and enhance the resilience of the Tanzanian economy. The RSF duration will coincide with the period remaining under the ECF, as extended (May 2026).
According to 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.
See Also:
Why Is the IMF Writing Kenya’s Finance Bills?
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