The Bank of Tanzania (BoT) Governor, Mr. Emmanuel Tutuba, has expressed gratitude to the International Monetary Fund (IMF) through its IMF AFRITAC East centre for contributing to Tanzania's economic development through various training and advisory programs.

He stated that this contribution assists BoT in effectively implementing monetary policy and strengthening the financial sector in the country.

Governor Tutuba conveyed such remarks on September 10, 2024, during a meeting with the recently appointed Director of IMF AFRITAC East, Ms. Clara Mira.

"We are particularly grateful for AFRITAC East's continued capacity-building efforts, which have enhanced our ability to overcome structural barriers to growth and foster strong financial institutions and macroeconomic stability," said Governor Tutuba.

He further informed the Director that Tanzania’s economy has strengthened despite a challenging global environment. 

He added that the economy growth projection for 2024 is 5.6%, an increase from the 5.1% growth rate in 2023.

"The strong growth projection is supported by ongoing Government initiatives in improving the business environment, promoting investment, supporting the value chain in agriculture, improving global economic conditions, and continued engagement with the Fund-supported program the Extended Credit Facility (ECF) and the recent approved Resilience and Sustainability Facility (RSF) aiming at supporting our efforts to build resilience to climate changes’’, He said.

On the other hand, Ms. Clara Mira pledged to continue collaborating with BoT on various economic matters, including the implementation of monetary policy, enhancing financial market infrastructure, and managing cybersecurity in the financial sector.