Dar es Salaam, Tanzania - Tanzania has expressed its appreciation to the International Monetary Fund (IMF) for its ongoing support through various programs that contribute to economic growth, inflation control, and the strengthening of the private sector.
This sentiment was conveyed by Vice President Dr. Philip Mpango during a meeting with IMF Deputy Managing Director Bo Li in Dar es Salaam, held on the sidelines of the recently concluded Africa Energy Summit.
Dr. Mpango highlighted the significant contributions of programs such as the Extended Credit Facility (ECF), designed to stimulate economic recovery post-pandemic and address the challenges of global geopolitical conflicts, and the Resilience and Sustainability Facility (RSF), which aims to enhance the country's capacity to mitigate the impacts of climate change.
In response, Mr. Li commended Tanzania for its successful implementation of IMF programs, particularly the ECF, and its strong economic performance. He also recognized Tanzania as a model country, alongside Madagascar, for its proactive approach to securing environmental funding from various stakeholders.
Furthermore, Mr. Li emphasized the IMF's commitment to supporting Tanzania in addressing the significant risks posed by climate change to its macroeconomic stability and social development. He highlighted the joint efforts of the IMF and the World Bank Group (WBG) to assist Tanzania in implementing climate-resilient policies and investments through the ECF for Scaled-Up Climate Action.
This initiative focuses on a collaborative, country-led approach to policy reforms and investments, utilizing complementary measures to enhance the resilience of the Tanzanian economy. Key areas of focus include climate-resilient public financial management, energy, water, and other reforms to promote sustainable development.
The meeting underscored the strong partnership between Tanzania and the IMF in supporting the country's economic growth and resilience in the face of global challenges, particularly the impacts of climate change.
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