/ 10 April 2000

TANZANIA GETS DEBT RELIEF PACKAGE

THE International Monetary Fund and the World Bank have announced a multilateral debt relief package worth $2-billion for Tanzania. Of that total, about $1,2-billion will be financed by the World Bank, through its International Development Agency, with the IMF participation put at $152-million. The rest of the package will be borne by multilateral and bilateral creditors, including $300-million by Tanzania’s bilateral creditors in the Paris Club, according to World Bank spokesman Anthony Gaeta. The total value of Tanzania’s debt, in present value terms, is $4,6-billion.