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IMF approves almost $600m loan to Tanzania for pandemic

For their health system and economic-recovery efforts as the nation battles the Covid-19 coronavirus pandemic.
Image: Andrew Harrer/Bloomberg

The International Monetary Fund approved nearly $600 million in emergency lending for Tanzania’s health system and economic-recovery efforts as the nation battles the Covid-19 coronavirus pandemic.

The fund’s executive board approved a total of $567 million in funds — $189 million under the Rapid Credit Facility and $378 million under the Rapid Financing Instrument. The resources will help pay for the nation’s “urgent balance of payment needs” stemming from the virus, the IMF said.

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“The Covid-19 outbreak has led to the collapse of the tourism sector and amplified the need for significant financing,” the Washington-based IMF said in a statement late Tuesday.

The IMF said that the funds should also help spur support for the nation from other development partners. Tanzania plans to borrow almost 10.8 trillion shillings ($4.7 billion), about half of which the authorities seek to raise from external sources. The money is needed to help fund the nation’s 2021-22 budget that seeks to more than double the annual growth rate to an estimated 5.7% this year.

The funding announcement follows talks between the IMF and Tanzania, with the government committing to resume publishing data on the spread of Covid-19 in order to determine the outbreak’s severity and an appropriate response. The authorities had stopped releasing the data after former President John Magufuli downplayed the disease before he died earlier this year.

His successor, Samia Suluhu Hassan, has since reversed Magufuli’s Covid-19 policies and launched a nationwide vaccination campaign. Still, the release of data is inconsistent — the government last published Covid-19 statistics in July, when it reported 858 cases and 29 deaths.

The economic impact from the virus last year caused about 1 million people in Tanzania to fall into poverty.

© 2021 Bloomberg

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600m USD for a country!
0.3% of the wealth of Elon Musk…now Africa knows where we fit in …

And all of a sudden Tanzania is invited to the IMF party. Obviously, taking on as much IMF debt as possible, is hugely beneficial for any country.

This loan is compensation for towing the Convid line. John Magufuli, who was rooting out corruption and rebuilding Tanzania, had the audacity to show up the idiocy in the west by testing goats, oil and pawpaws using the PCR process. He, like other leaders with integrity and principle, died suddenly after placing his countrymen above the wishes of western oligarchs, same as in Burundi, Ivory Coast and Swaziland. Salvador Allende also springs to mind.
The puppet who was installed in his place, Samia Suluhu Hassan, just happens to be the product of the Open University of Tanzania, financed by the Rockefeller and Gates foundations, and the UN Grift Programme. Funding has increased exponentially since 2008. The university is run out of Tedros’ Ethiopia. It probably also helps that she is also a member of the WEF.

Her husband, Hafidh Ameir, seems to be directly plugged into the international AIDS moneypot, apparently working for TakAIDS. The money comes from the U.S. President’s Emergency Plan For AIDS Relief (PEPFAR) set up by Anthony Fauci and run by Deborah Birx — yes, the same people who run the Covid task force

Someone at the IMF is probably getting a commission too 🙂
That is how it works.

IMF – Bye bye to your $600 USD

End of comments.

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