Hunyu
JF-Expert Member
- Aug 19, 2014
- 4,774
- 4,327
Dar es Salaam. The International Monetary Fund (IMF) has added its voice to the Tegeta escrow account saga noting that the issue holds significant importance to business environment in the country.
In a statement released after conclusion of first Policy Support Instrument (PSI) review for Tanzania, IMF notes that generally, economic fundamentals in the country were doing well but it will be critical to the business environment to address the governance issues raised by the IPTL case, which would also unlock donor assistance. The comments come at a time when donors have started to approve efforts being made by the government in dealing with the scandal.
Among others, the government has sacked the minister for Lands, Housing and Human Settlement Development, Prof Anna Tibaijuka, and suspended the Permanent Secretary in the ministry of Energy and Minerals, Mr Eliachim Maswi.
Donors had withheld their general budget support (GBS) assistance worth about $558 million (about Sh900 billion) pending the outcome of the IPTL scandal handling.
But, President Kikwete is yet to make final decision on the minister for Energy and Minerals, Prof Sospeter Muhongo, who is the central figure around the scandal.
In its stament, the Executive Board of the IMF said it has granted a waiver for the non-observance of the continuous assessment criterion on the non-accumulation of external arrears to Tanzania owing to what was observed during the survey. The PSI for Tanzania was approved by the Executive Board on July 16, 2014. Tanzanias programme under the PSI supports the authorities medium-term objectives. These include the maintenance of macroeconomic stability and the preservation of debt sustainability.
Nawasilisha.
In a statement released after conclusion of first Policy Support Instrument (PSI) review for Tanzania, IMF notes that generally, economic fundamentals in the country were doing well but it will be critical to the business environment to address the governance issues raised by the IPTL case, which would also unlock donor assistance. The comments come at a time when donors have started to approve efforts being made by the government in dealing with the scandal.
Among others, the government has sacked the minister for Lands, Housing and Human Settlement Development, Prof Anna Tibaijuka, and suspended the Permanent Secretary in the ministry of Energy and Minerals, Mr Eliachim Maswi.
Donors had withheld their general budget support (GBS) assistance worth about $558 million (about Sh900 billion) pending the outcome of the IPTL scandal handling.
But, President Kikwete is yet to make final decision on the minister for Energy and Minerals, Prof Sospeter Muhongo, who is the central figure around the scandal.
In its stament, the Executive Board of the IMF said it has granted a waiver for the non-observance of the continuous assessment criterion on the non-accumulation of external arrears to Tanzania owing to what was observed during the survey. The PSI for Tanzania was approved by the Executive Board on July 16, 2014. Tanzanias programme under the PSI supports the authorities medium-term objectives. These include the maintenance of macroeconomic stability and the preservation of debt sustainability.
Nawasilisha.