The John Magufuli government declined to authorize publication of IMF’s report of Tanzania’s economy as it may have significant implications for foreign investment as well as aid flows.
International Monetary Fund is authorized under Article IV of its Articles of Agreement to inspect economic, financial and exchange-rate policies of member countries for the purpose of smooth-running international monetary system.
The IMF economists are entitled to visit one or more times a year to the member countries for analyzing data and hold meetings with central bank officials and government.
The analysis report is thereafter submitted to the executive board to transmit views to the respective government and the same is also published as a summary on the IMF website after consent of the member nation.
IMF said, “On March 18, 2019, the executive board of the IMF concluded the consideration of the 2019 Article IV Consultation with the United Republic of Tanzania.”
The organization added the government has not consented the publication of the report.
It is learned from the report that 4 percent economic expansion was found in 2019. Last year it was 6.6 percent.
Tanzania has the second biggest economy in East Africa after Kenya. It is rich in mineral and gas. President Magufuli has won accolades for fight against corruption after taking office. He is nicknamed as bulldozer for his tough decisions.
