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Tanzania has strong path to economic growth – IMF

THE International Monetary Fund (IMF) has lauded Tanzania for its cooperation with the Fund’s managers and prudent measures adopted so far to substantially improve the country’s economy.

Director General of Tanzania Information Services (MAELEZO) and Chief Government Spokesperson, Dr Hassan Abbasi told a press conference here yesterday when briefing reporters on the Fund’s latest economic performance assessment of seven African countries.

“Our economy has been growing at an average of 6.8 per cent in the first half of 2017,” he said. “This remains among higher rates in developing countries across the globe.” Dr Abbas said the IMF has described Tanzania as a country “with a strong path to growth.”

Other countries which were involved in the assessment include, Mozambique, Nigeria, Senegal, Rwanda, Uganda and Cape Verde. The IMF team was led by Mauricio Villafuerte and completed its assignment on December 12, this year.

He said the findings show that Tanzania’s economy was strong compared to other countries under assessment that include Rwanda and Mozambique. He went on to note that Tanzania remained on track as it recorded significant progress in all sectors of the economy.

A recent World Bank report indicated that in the 2010s, Tanzania was among the fastest growing economies in the world, recording a single digit inflation of 4 per cent and a decline in interest rates to the lowest level in four decades.

“The 6.8 per cent economic growth rate was a huge mileage for our nation. This means we managed to beat other countries including those in Europe,” Dr Abbasi said. IMF was equally surprised on how the country had managed to lower its inflation rate to 4.4 per cent down from the projections of 5 per cent.

But, he explained that such decline in inflation rate was augmented by a raise in agro crop production early this year, that subsequently reduced the price of food crops in the local market.

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1 comment

rezen Dec 16, 2017 at 10:49 pm

Subject: “Tanzania has strong path to economic growth – IMF”, By
Daily News, Dec 16, 2017

Commentary, 16 Dec 2017
Here we go again; another International Organization — a source of highly paid international civil servants of the developed countries, declaring that Tanzania “has strong path to economic growth”. Believe it or not, the ordinary Tanzanian would know if his/her country is progressing or not. THEY DO NOT NEED IMF to tell them.

But President of Tanzania will be happy — and will keep on being President for Life. It does not matter to the IMF whether one Dictator rules for eternity or goes away and replaced by one hundred and one Black Africans. The powerful ‘conductors’ behind every international organization have their own agenda — and that agenda does not include the poor, destitute, Black African. NEVER!

The International organizations were never initiated and will never be concerned about the Black Dark Continent of Africa. Their interest is exclusively upon themselves and will continue to be so until dooms day.

If Africans care about themselves, the field is wide open for struggle and success by themselves, for their own benefit. NOTHING else will help Africa, except itself. If Africans are willing — and capable — the field is wide open for them to prove their worth.

But, alas, if past experience is worth using, Africa is psychologically crushed by continues subjection under colonial forces for so long that they became their own enemies. In that score, colonialism succeeded in Africa, perfectly. Look at the indigenous Dictators of Africa; look at the African Intellectuals of the highest Order, with Doctor of Philosophy Degrees from Ivy League Universities; and look at the ordinary African people who would GLADLY sacrifice their lives to be FREE and gladly accept one meal [not three meal] a day in the old master’s countries. They will give anything to be away from their birthplace. If that is not the cruelest effect of colonialism ever exercised upon human beings, what else is there worse than that?

How low can WE AFRICANS go down than the bottom!?!? WE ARE PATHETIC. Prove me wrong. THE END

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