IMF approves over $900 mln to support Tanzania budget, climate change fight

The IMF said on Thursday its executive board approved funding for Tanzania of $786.2 million to help tackle climate change while also completing a separate review allowing for the disbursement of $149.4 million for budget support.
Tanzanian authorities are committed to continue implementing reforms to preserve macro-financial stability, strengthen economic recovery, and promote sustainable and inclusive growth, the International Monetary Fund said in a statement.
In the last three years, President Samia Suluhu Hassan’s administration has undertaken various economic reforms with ambitions to return the country’s economic growth to the pre-pandemic real gross domestic product growth rate of 6% to 7%.
Tanzania’s economic reform program remained strong, the IMF said, adding that economic growth rebounded in 2023 after slowing down in 2022.