President Samia Suluhu Hassan is set to release the Covid-19 data in Tanzania in order to unlock the loan from International Monetary Funds(IMF).
According to The East African, President Suluhu Hassan held a virtual meeting with IMF boss Kristalina Georgieva before reaching the agreement.
IMF had threatened to solve $571 over the hoarding of statistics by the Tanzanian government.
President Suluhu Hassan signaled a shift in policy by appointing an advisory team on how to tackle the pandemic and started a process to procure vaccines.
But since then, they have not yet released the Covid-19 data which has the country face some sanctions.
“Publication of such data would be a precondition of moving ahead,” said Jens Reinke, the IMF’s resident representative in Tanzania. “In order to justify emergency financing in the context of the pandemic, you need to publish relevant public-health data.”
The government first asked the IMF for a loan under its Rapid Credit Facility in March last year, he said by phone. Negotiations never progressed, and the government said last month it had revived the request.
The nation doesn’t face an immediate balance of payments crisis, so Hassan’s administration would seek to justify the request on the basis of needing to finance its response to the impact of Covid-19.
The IMF in April forecast Tanzania’s economy will grow by 2.7% this year, from 1% in 2020. The nation will end the year with enough foreign exchange reserves to cover four months of imports, according to the fund’s projections. While the ratio has fallen from nearly six months cover in 2019, it still exceeds the recommended three months.
President Suluhu intends to make a turnaround in the country’s economy that by getting foreign help which late President John Pombe Magufuli was somehow against.
And just like Kenya, Tanzania has set its eyes on IMF which has been helping most African Nations.