Amadeusz Juskowiak

Tanzania says no need for new economic measures

Tanzanias ruling Chama cha Mapinduzi CCM party has endorsed the governments economic reform programme but said it did not think more changes such as a further devaluation of the shilling would be needed

Tanzania has devalued the shilling more than 65 pct in less than a year and has started to overhaul inefficient government firms in line with a package agreed with the IMF

The CCMs national executive committee said it was satisfied with government efforts to implement IMF conditions Measures taken so far are satisfactory and there is no need to take other ones the devaluation of the shilling included it said

The committees statement was in response to a government report on the IMF package submitted last Thursday

Reuter