The government of Tanzania will meet a team of experts from the International Monetary Fund (IMF) to discuss a new policy support instrument (PSI), an official said on Friday.

The PSI helps countries design effective economic programs that, once approved by the IMF’s Executive Board, signal to donors, multilateral development banks, and markets the Fund’s endorsement of a member’s policies.

Philip Mpango, Tanzania’s Minister for Finance and Planning, revealed the east African nation’s planned meeting with the IMF experts during talks with the new IMF Resident Representative for Tanzania, Jens Renke, in the capital Dodoma.

A statement issued by the Ministry of Finance and Planning said Tanzania has been working closely with the IMF that had been advising the country on decisive economic policies aimed at reducing poverty and improving its economic growth.

The statement said Mpango expressed optimism that talks on the new PSI will bear fruits and enable Tanzania and the IMF to forge ahead toward implementation of desired policies.

Mpango explained to the newly appointed IMF representative the country’s priorities, including reduction of poverty, sound management of public funds and investments in agriculture and infrastructure, said the statement.

Mpango also mentioned other priorities as improved collection of revenue in order to finance the provision of social services such as education and health, added the statement.

For his part, Renke commended Tanzania for economic transformation it was undertaking and pledged to work closely with the government. Enditem

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