The Minister of Finance, Dr. Mwigulu Lameck Nchemba Madelu (MP), recently held a productive meeting with Mr. Abebe Selassie, the Director of the International Monetary Fund (IMF) responsible for the Africa Region, during the IMF and World Bank Annual Meetings in Washington D.C., United States.
The meeting provided an opportunity for both leaders to discuss several key areas of collaboration between Tanzania and the IMF.
During the discussions, Minister Nchemba emphasized the importance of continued support for Tanzania’s economic growth, stating, “Our government is committed to strengthening our economy, and partnerships such as this with the IMF are essential to achieving sustainable development.”
One of the major topics of conversation was the Extended Credit Facility (ECF) program, which provides affordable loans aimed at boosting the country's economy through investment in productive sectors and social services.
The two parties also discussed the financing of initiatives to combat the adverse effects of climate change, particularly through the Resilient and Sustainable Fund (RSF) available via the IMF.
“I am pleased with the progress made in our partnership with the IMF, especially as we look to leverage this support to address climate change challenges and enhance our development prospects,” said Mr. Abebe Selassie, adding, “The IMF is fully committed to assisting Tanzania in navigating its economic transformation, especially in these challenging global times.”
The meeting was attended by a delegation of senior officials, including the Deputy Minister of State in the President’s Office, Planning and Investment, Stanslaus Nyongo (MP), who highlighted the significance of multilateral support in achieving Tanzania's long-term goals. “Collaborating with global institutions like the IMF ensures that our plans for economic resilience are well-supported,” Nyongo remarked.
Also in attendance were the Alternate Governors of the IMF and World Bank, including Dr. Natu El-maamry Mwamba, Permanent Secretary of the Ministry of Finance; Mr. Emmanuel Tutuba, Governor of the Bank of Tanzania (BoT); Dr. Juma Malik Akil, Secretary-General of the President’s Office, Finance and Planning – Zanzibar; Dr. Yamungu Kayandabila, Deputy Governor of the Bank of Tanzania (BoT); and other senior government officials.
This meeting reinforced the ongoing commitment to economic cooperation and strategic partnerships aimed at addressing both current and future challenges, including climate resilience and sustainable development.
