DAR ES SALAAM (Reuters) – Tanzania is in talks with the International Monetary Fund for a $1.1 billion three-year financing package, and that a team was in the country to examine the request, President Samia Suluhu Hassan’s spokesperson said on Thursday.
“When the president was in the US, she met with the IMF boss where the government requested for $1.1 billion … if we get it, it will be over a three-year period. I’m told the IMF team are already here,” Zuhura Yunus told reporters.
Last week, the energy minister said Tanzania was in the final stages of securing loans from the World Bank and the IMF to help cushion the rising cost of living.
In March, Finance Minister Mwigulu Nchemba said Russia’s invasion of Ukraine posed a risk for its fiscal budget due to an expected rise in inflation caused by disruptions in the supply chains of various commodities including fuel.
(Reporting by Nuzulack Dausen; Writing by George Obulutsa; Editing by James Macharia Chege)
