IMF credit facility to Tanzania - The Executive Board of the International Monetary Fund (IMF) has approved a request by Tanzania for the extension of the country's arrangement under the Standby Credit Facility (SCF) until 30 April, next year. A brief IMF statement sent to PANA in New York on Friday, said that the decision to extend the facility was to allow time for the third and final review of Tanzania's economy. It noted that, 'the decision was taken on a lapse of time basis. The 18-month arrangement, approved in July 2012 , had been scheduled to expire on 5 January, next year. 'The SCF provides financing in an amount equivalent to SDR 149.175 million (about US$ 230.2 million ), of which SDR 74.6 million (about US$ 115.1 million ) has been disbursed to date. 'The Executive Board is now expected to consider the final review by late April, next year. The authorities intend to treat the remaining tranches of the SCF on a precautionary basis,' it stated.
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