This archive report was first published on 22 November 2021.
On November 22, 2021, the International Monetary Fund (IMF) approved a zero-rated $372.4 million loan for Tanzania to support the country's COVID-19 pandemic relief measures.
The loan will be issued through the IMF's Rapid Credit Facility (RCF) and is part of a $567.25 million package released in September under a blended RCF/Rapid Financing Instrument (RFI) programme.
The IMF stated that the RCF disbursement will allow Tanzania to 'take full advantage of its new eligibility to borrow from the fund on fully concessional terms.'
The country's economic outlook has deteriorated due to the impact of the COVID-19 pandemic, with the growth expected to remain subdued in 2021.
According to the IMF, the RCF disbursement will 'help address Tanzania's urgent balance of payment needs arising from the COVID-19 pandemic and provide it with concessional resources needed to take measures to mitigate the severe socio-economic impact of the pandemic.'
