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Tanzania has contacted the International Monetary Fund to support the country’s efforts to mitigate the impact of Covid-19 and access to vaccines.
At a meeting in Dodoma on September 28, President Samia Suluhu met with the World Bank’s Regional Vice President for Eastern and Southern Africa, Hafez Ghanem, and discussed the focus of her government on improving education, health and women’s empowerment.
This was a follow-up to a meeting that President Samia held with the President of the World Bank Group, David Malpass, in New York during the 76th session of the United Nations General Assembly.
Informing Dr Ghanem of his government’s priorities at Tuesday’s meeting, President Samia said; “We are currently reviewing our tax policies in consultation with stakeholders to improve the business environment and attract investment.”
“We are also in the process of strengthening the private sector so that it can be competitive and contribute to employment in the country,” she added.
She also spoke of efforts to improve information and increase efficiency through the use of ICTs.
Ghanem was optimistic about collaborating in various development projects and empowering women. “We are also ready and willing to work with the Tanzanian government in purchasing Covid-19 vaccines, disseminating information, raising public awareness and encouraging more people to do so. vaccinate against Covid-19. “
He is the second vice president of Ghanem after Tanzania as vice president of the World Bank.
Improve efficiency
According to World Bank data, Covid-19 has negatively impacted Tanzania’s macroeconomic outlook and negatively impacted the health and well-being of its people. The economy has slowed to 4.8% growth in 2020, and growth is expected to remain subdued in 2021.
At the meeting in New York with the President of the World Bank, the bank affirmed its willingness to support Tanzania’s vaccine supply, adoption and deployment through its international development assistance.
Malpass also praised Tanzania’s efforts to improve the business environment and facilitate private sector-led growth through reforms.
He stressed the importance of access to electricity, affordable housing and digital infrastructure to improve efficiency and access competitive markets, and also underlined the importance of debt transparency and encouraged careful selection of investment programs.
The IMF responded to the Covid-19 crisis by deploying financial assistance, policy advice and creating special tools to help member countries.
This year, the IMF approved $ 567.25 million in emergency financial assistance under the Rapid Credit Facility and the Rapid Finance Instrument to support its pandemic response efforts by facing the costs. urgent health, humanitarian and economic issues.
This funding would help finance Tanzania’s urgent balance of payments needs resulting from the Covid-19 outbreak.
Resources should also play a catalytic role in their efforts to mobilize additional support from development partners.
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