Tanzanian authorities have rejected claims that they blocked an IMF report on the country’s economy from being released to the public. According to Tanzania’s Finance Minister Philip Mpango, government officials are holding talks with the international lender concerning the document. The Minister says that Tanzania wishes to have its views included in the annual report before its release.
IMF recently gave a statement saying that officials of the East African country did not give consent to the publication of the report. The multilateral institution follows a strict code that requires each country to give approval before the country-specific report is released to the public.
According to an article published by Reuters, a leaked IMF document seen by the media company showed that Tanzania’s GDP growth is expected to slow down due to investments in projects with low returns, and a weak business environment.
Since Tanzania’s President John Magufuli took office in 2015, he introduced unpopular reforms in the country’s mining and agriculture sector. As a result, some foreign investors have withdrawn their investments from the country. International bodies such as the World Bank have criticized the nation’s leadership for introducing retrogressive policies that harm its economy.
IMF projects that Tanzania’s economy will expand by 4-5 percent in the current financial year.
