Oxfam’s reaction on the decision by IMF Executive Board to approve $14.3 Million Debt Relief to Tanzania

In reaction to yesterday's announcement by the IMF Executive Board to approve $14.3 Million Debt Relief to the United Republic of Tanzania Under the Catastrophe Containment and Relief Trust, Francis Shanty Odokorach, Oxfam in Tanzania Country Director, made the following statement:

Oxfam welcomes the decision by IMF Executive Board to approve $14.3 Million Debt Relief to the United Republic of Tanzania Under the Catastrophe Containment and Relief Trust. Relief that is clearly needed at a time where Tanzania like many other African countries is facing the health and economic test amidst declining tax revenues, diminishing official development assistance, and rising debt obligations and costs.

Oxfam urges other International lenders, bilateral creditors, multilateral institutions or private lenders to cancel all debt repayments in 2020 to allow countries like Tanzania to focus on: strengthening their public health systems; rejuvenating sectors impacted by the COVID-19 crisis; and provide social protection to the most vulnerable communities.

Odokorach called on the Government of Tanzania to channel the funds to sectors that aim to lessen the burden on the economy while paying attention to protecting the most vulnerable groups including women, small scale food producers, children, refugees, elderly and people living with disabilities.

Odokorach urged citizens to continue to observe protective measures against COVID19 by following official public health guidance.