The Governor of the Bank of Tanzania (BoT), Mr. Emmanuel Tutuba, together with the Deputy Governor, Dr. Yamungu Kayandabila, participated in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB) held in Washington D.C., United States, from October 13 to 18, 2025.

During these meetings, Governor Tutuba held discussions with leaders of the Industrial and Commercial Bank of China (ICBC), including the Chief Executive Officer, Mr. Peter Poon, and the Director of International Market Structure, Ms. Yoyo Ye. The discussions focused on strengthening cooperation between BoT and ICBC, particularly in the area of national reserves management. The two sides explored investment opportunities through the purchase and storage of gold — an initiative expected to boost foreign exchange reserves and enhance the stability of Tanzania’s financial sector.

In addition, Governor Tutuba attended the 52nd Meeting of the Africa Group 1 Constituency Policy Dialogue, held on the sidelines of the Annual Meetings. The meeting brought together Ministers of Finance and Central Bank Governors from 14 IMF member countries, including Tanzania. The agreements reached aimed at strengthening strategies to promote private sector investment and increase domestic revenue to address the decline in loans and aid from development partners. Tanzania was commended for its progress in improving budget transparency and domestic revenue collection, as well as implementing reforms in tax systems and the use of digital technologies.

Meanwhile, Dr. Kayandabila participated in a session organized by the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI), which discussed opportunities and challenges of using Artificial Intelligence (AI) in the economy. The discussions focused on how AI can support revenue collection, data analysis for policy decision-making, and the management of financial services. However, challenges such as shortage of experts, inadequate infrastructure, and data security concerns were identified as issues that need to be addressed.

The participation of BoT leaders in these meetings demonstrates Tanzania’s commitment to continued collaboration with international institutions in strengthening the national economy, enhancing budget transparency, and increasing domestic revenue through sound policies and the adoption of modern technologies.