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Browsing: Executive Board of the IMF
- Tanzania has received $149.4 million for budget support from the IMF.
- The lender has commended Dodoma’s ongoing economic reform and diversification plan.
- IMF approves $786.2 million for Resilience and Sustainability Facility (RSF)
Days after the International Monetary Fund (IMF) ranked Tanzania third on its list of top-performing African economies, its Executive Board has announced an immediate disbursement of about $149.4 million for budget support after completing the third review of the country’s Extended Credit Facility (ECF).
“The Executive Board also approved a 23-month arrangement under the Resilience and Sustainability Facility (RSF) of about US$786.2 million to support Tanzania’s efforts to build resilience to climate change,” the IMF reports.
In its report, the IMF attributed Dodoma’s economic performance to the country’s commitment to economic reform and diversification. The multilateral lender noted that the country is currently focusing on attracting foreign investment, promoting sustainable development, and fostering a favorable business climate.
The …
- Like many other countries, the IMF has noted that Nigeria’s economy faces a complex external environment and wide-ranging domestic challenges.
- External financing (market and official) is scarce, and global food prices have surged, reflecting the repercussions of conflict and geo-economic fragmentation.
- Per-capita growth in Nigeria has stalled, and poverty and food insecurity are high, exacerbating the cost-of-living crisis, according to the global lender.
Nigeria’s economy is not yet out of the woods, the International Monetary Fund (IMF) has indicated, with a potential economic crisis despite government interventions to improve the economy.
This is even as the country’s real GDP is projected to grow by three per cent this year compared to last year’s projection of 2.9 per cent.
Like many other countries, the IMF has noted that Nigeria faces a complex external environment and wide-ranging domestic challenges.
External financing (market and official) is scarce, and global food prices have surged, …