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International Monetary Fund. African Dept.

financing facilities. To ensure transparency and accountability in the use of COVID-related expenditure, the authorities have committed to undertake a post-audit of COVID-19 spending and to publish the letter of request for debt-relief under the CCRT. II. Impact of the Pandemic 3. While the health system continues to cope with a relatively mild human impact of COVID-19, a prolonged crisis may place a strain on capacity. Nonetheless, budgetary pressures from constrained fiscal revenues and increased spending to mitigate the impact of COVID-19 have increased

International Monetary Fund. African Dept.
This paper discusses the United Republic of Tanzania’s Request for Debt Relief Under the Catastrophe Containment and Relief Trust. IMF debt service relief will help free up resources for public sector health needs and other emergency spending, as well as mitigate the balance of payments shock resulting from the pandemic. Given the risks ahead, it would be important to ensure close cooperation with multilateral organizations and donors and ensure enough budget allocations on health and other priority spending. The authorities are committed to using the additional resources for their intended purposes and in a transparent manner, including through ex-post audits of corona virus-related spending. To deal with the remaining risks, it will be important to safeguard appropriate funding for health and other priority social spending in the FY2020/21 budget, as well as ensure close cooperation with the World Health Organization, multilateral agencies, and donors. The focus includes addressing arrears on value-added tax refunds and government expenditures, enhancing human capital and the business environment, and improving the affordability of bank credit.
International Monetary Fund. African Dept.

emergency financing facilities. We are confident that strong IMF support to our country will help catalyze wider support from other development partners. Lastly, we authorize the IMF to publish this letter and Board documents related to this request for debt relief from the CCRT. As we thank you for your continued support and cooperation, please accept the assurances of our highest consideration. /s/ /s/ Dr. Philip I. Mpango (MP) Prof. Florens Luoga MINISTER OF FINANCE AND PLANNING GOVERNOR, BANK OF TANZANIA

International Monetary Fund. African Dept.

Request for Debt Relief under the Catastrophe Containment and Relief Trust-Press Release; Staff Report; and Statement by the Executive Director for the United Republic of Tanzania

International Monetary Fund. Secretary's Department


The report, available in nine languages, highlights the IMF's work on COVID-19 recovery and the impact of Russia's invasion of Ukraine; inflation; how to achieve an equitable recovery; debt; and climate change, digital money and inclusion.

International Monetary Fund

diverse range of tools, with greater use of short-term and emergency financing facilities, blending, and augmentations. Use of facilities has been greatest among the poorer and HIPC-eligible LICs, and has increased strongly for small and fragile economies. New empirical evidence suggests that longer-term IMF program support has helped LICs support economic growth and build macroeconomic buffers, while short-term financing during the recent crisis helped preserve vital spending and facilitated a rapid recovery. Looking ahead, LICs will remain exposed to global risks

International Monetary Fund. Western Hemisphere Dept.

Grenada Our Grenadian authorities would like to thank management and staff for the timely response to their request for emergency support under the Rapid Credit Facility (RCF). They would also like to thank Executive Directors for their recent decision to enhance the emergency financing toolkit in response to the COVID-19 pandemic, which has enabled Grenada to access 100 percent of quota (about US$22.3 million). Our authorities view the decision to augment access under the emergency financing facilities as both timely and appropriate considering the