United Republic of Tanzania: Second Review under the Extended Credit Facility Arrangement and Request for a Waiver of Nonobservance of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for the United Republic of Tanzania

December 18, 2023

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United Republic of Tanzania: Second Review under the Extended Credit Facility Arrangement and Request for a Waiver of Nonobservance of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for the United Republic of Tanzania, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

The unfavorable global economic environment and domestic factors continue to weigh on Tanzania’s economic recovery. Growth rebounded during the first half of 2023 but is expected to slowdown in the second half amid headwinds from a weak global outlook and forex liquidity shortages. Inflation has moderated and is now well within the Bank of Tanzania’s target. The fiscal deficit was wider than expected in FY2022/23, largely reflecting shortfalls in revenue collections. A wide current account deficit for FY2022/23 and tighter external financial conditions resulted in pressures in the foreign exchange market.

Subject: Credit, Currency markets, External debt, Financial markets, Foreign exchange, International organization, International trade, Monetary policy, Money, Trade balance

Keywords: Credit, Currency markets, ECF arrangement, Forex market imbalance, Global, Near-term policy priority, Reform agenda, Reform priority, Trade balance

Publication Details

Pages:

94
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/425
Stock No:

1TZAEA2023003
ISBN:

9798400262982
ISSN:

1934-7685

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