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Finance Minister Dr. Mwigulu Lameck Nchemba (MP) has assured the International Monetary Fund (IMF) that the Government of Tanzania remains committed to advancing reforms that prioritize economic productivity, strengthen public service delivery, and support private sector development.
Speaking during the closing session of discussions with the IMF team in Dar es Salaam, Dr. Nchemba reiterated the Government’s intention to continue implementing sound policies under the Extended Credit Facility (ECF) and Resilience and Sustainability Facility (RSF).
"We are determined to sustain these reforms and ensure that every intervention translates into inclusive and resilient economic growth," said Dr. Nchemba at the wrap-up meeting held at the Bank of Tanzania.
"The Government will continue to monitor and implement the ECF and RSF programs with discipline and transparency, as they are crucial to supporting our national development agenda."
The discussions marked the conclusion of the Fifth Review of the ECF a concessional financing arrangement designed to stimulate economic growth through productive sectors and social services and the second phase of the RSF, which targets climate resilience and sustainable development.
Dr. Nchemba expressed his satisfaction with the review report presented by IMF Mission Chief Mr. Nicolas Blancher, which confirmed Tanzania’s strong performance in meeting the agreed benchmarks.
The combined value of the two programs stands at USD 1.832 billion. Of this, USD 1.1 billion is allocated to the ECF for macroeconomic and structural reforms, while USD 786 million under the RSF is dedicated to strengthening the country’s capacity to address climate change. The programs span four fiscal years from 2022/2023 to 2025/2026.
IMF Mission Chief Mr. Blancher applauded Tanzania’s progress, stating, "Tanzania has done well in implementing both the ECF and RSF programs. The authorities have demonstrated strong ownership and commitment to reforms, which is reflected in the improved macroeconomic indicators."
He added that the country’s economy is on a promising trajectory. "We expect Tanzania’s economy to continue growing steadily, with low inflation, improved foreign exchange availability, and a narrowing current account deficit."
Mr. Blancher also emphasized the importance of maintaining fiscal discipline. "The steps being taken to align revenues and expenditures in the 2025/2026 budget are commendable and will help safeguard the country’s debt sustainability," he said.
"At the same time, it is critical to protect priority spending, particularly in social sectors like health and education."
On climate resilience, he noted that continued implementation of RSF-supported policies would position Tanzania to manage climate risks more effectively.
“The reforms supported under the RSF are essential for building long-term resilience and attracting green investments,” said Mr. Blancher.
He further announced that the review's findings will be presented to the IMF Executive Board for approval. “Once approved, Tanzania will qualify for an additional disbursement of USD 441 million,” he said.
So far, Tanzania has received USD 754.3 million out of the approved USD 1.1 billion under the ECF, and USD 55 million out of the total USD 786 million under the RSF.
Also present at the session were the Permanent Secretary of the Ministry of Finance, Dr. Natu El-Maamry Mwamba; Governor of the Bank of Tanzania, Mr. Emmanuel Tutuba; Deputy Governors; senior government officials; and members of the IMF technical review team.
