Yatani said the country pursued the loan as the early measures announced by the government to the effect of tax reliefs, expanded health spending, and social interventions such as Kazi Mtaani set forth the need for additional cash. The government says this was coupled with "uncertainties over the evolving nature of the Covid-19 pandemic as unsteadiness surrounding the supply of vaccines." "These require that the government be adequately resourced to make prompt and targeted interventions," Yatani said in a statement. "It is against this background that the government requested this disbursing programme, so as to cover these fiscal needs, by providing the additional resources." "The granting of this request is not only timely but also an expression of confidence in the soundness of the extended credit facility programme."

Source: The Star April 03, 2021 06:33 UTC