/ 9 February 1999

IMF LOAN FOR TANZANIA

THE International Monetary Fund has approved a $58,76-million loan for Tanzania to support the government’s 1998/99 economic programmes, the IMF said on Monday. The credit, known in IMF parlance as an enhanced structural adjustment facility, will be available in two semi-annual installments. The IMF said Tanzania aims to achieve growth of at least 4% in 1998/99 and to reduce inflation from 12,5% to 7,5% while limiting the current account deficit to 14,1% of gross domestic product. The country also plans to restructure and privatise its public utilities in the coming year and to foster competition and efficiency in the financial sector, the IMF said.