This little piece news was missed by most of the local press:
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement on Tanzania today:
“In the context of the ongoing dialogue under the Policy Support Instrument, an IMF staff mission and the Tanzanian authorities have reached broad agreement on policies that will help Tanzania address the impact of the global financial crisis. These policies aim at bolstering the Tanzanian economy, which has been affected by declining receipts from traditional exports and tourism, and protecting the most vulnerable segments of the population.
“In support of these policies, and to help mitigate the exogenous shock stemming from the global economic downturn, Tanzania has requested financial support under the high-access component of the Exogenous Shocks Facility. It is expected that the request will be considered by the IMF’s Executive Board before the end of May,” Mr. Strauss-Kahn said.
The statement is too vague for my liking. What are the strings attached to this bail-out money and why is the government being so secretive about it all? Something fishy is going on here that they don’t want us to know about. We’ll be keeping an eye on this as it develops.