[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110665-en":3,"doc-seo-110665-105":29,"detail-sidebar-cat-0-en-105":90},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},110665,13056703019404,"Miles","https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0",8,"Research & Report","Tanzania - Joint World Bank-IMF Debt Sustainability Analysis - September 2021","Tanzania’s joint World Bank-IMF Debt Sustainability Analysis (DSA) finds the risk of external debt distress has increased to moderate, driven by the pandemic’s impact on exports and tourism receipts, alongside lower debt burden thresholds under the updated medium debt carrying capacity classification. Despite high uncertainty and downside risks, the macroeconomic outlook remains broadly stable. External indicators stay below baseline policy thresholds except a one-off breach linked to the tourism shock. Public debt remains contained around 30% of GDP versus a 55% threshold, emphasizing concessional external financing, improved public investment management, and better coverage and transparency of public sector debt statistics, including non-guaranteed debt.","Public Disclosure Authorized Public Disclosure Authorized  \nINTERNATIONAL DEVELOPMENT ASSOCIATION  \nINTERNATIONAL MONETARY FUND  \nUNITED REPUBLIC OF TANZANIA  \nJoint World Bank-IMF Debt Sustainability Analysis  \nSeptember 2021  \nPrepared Jointly by the staffs ofthe International Development Association (IDA)  \nand the International Monetary Fund (IMF)  \nApproved by Marcello Estevão, Asad Alam (IDA)1.Catherine Pattillo and Maria Gonzalez  \n(IMF)  \n\n| Tanzania\u003Cbr>Joint Bank-Fund Debt Sustainability Analysis |  |\n| --- | --- |\n| Risk of external debt distress | Moderate |\n| Overall risk of debt distress | Moderate |\n| Granularity in the risk rating | Moderate risk tool, limited space to absorb shocks |\n| Application of judgment | No |\n\nThe Debt Sustainability Analysis (DSA) indicates that Tanzania’s risk of external debt distress has increased to moderate, mainly due to the effects of the pandemic on exports, which has weakened Tanzania’s ability to service its external debt, and to the lower debt burden thresholds that correspond to the new medium debt carrying capacity classification.2, 3 Tanzania’s macroeconomic conditions have been resilient despite the COVID-19 shock. Although uncertainty is high, and risks are tilted to the downside, the macroeconomic outlook is stable. The results of the external DSA show that, with the exception of a one-off breach in the debt service to exports ratio caused by the collapse in tourism receipts due to the pandemic, all external debt burden indicators continue to remain below the policydetermined thresholds under the baseline. However, in the short-term Tanzania has limited space to absorb shocks, and the ongoing effect of the pandemic on the tourism sector is highly uncertain. The public DSA analysis shows that the present value of the public debtto-GDP ratio remains contained at around 30 percent, well below the 55 percent threshold. The results of the DSA underscore the importance of accessing, to the extent possible, external financing on concessional terms. Also, to maintain fiscal and debt sustainability, the authorities should improve public investment management and proceed only with investment projects with clear socioeconomic payoffs. Finally, it will be important to continue improving the coverage and transparency of public sector debt statistics, including non-guaranteed debt.  \n1 Prepared by the IMF and the World Bank. This DSA follows the Guidance Note of the Join Bank-Fund Debt Sustainability Framework for Low Income Countries, February 2018.  \n2 This Debt Sustainability Analysis (DSA) replaces the previous joint IMF/IDA DSA prepared in March 2019 in the context of the last Article IV Consultation (The Country Report was not published) .  \n3 Under the revised Debt Sustainability Framework for Low-Income Countries, Tanzania’s Composite Indicator is 2.92 based on the April 2021 WEO and the 2019 World Bank’s CPIA, corresponding to a medium debt carrying capacity.  \nBackground  \n1. Tanzania’s public and publicly guaranteed (PPG) debt remains relatively low. At the end ofFY 2019/20, the level of public debt stood at 38 . 8 percent of GDP, down from 41.4 percent in 2017/18 .4 However, over the past decade the debt to GDP ratio increased by more than 13 percent of GDP. While domestic debt rose over the period, most of the increase was related to external debt which accounts for 73 percent of the total debt.5  \n2. Non-concessional borrowing has increased in recent years to finance the public infrastructure agenda. Multilateral and official bilateral creditors continue to be the major financiers, accounting for about 70 percent of the stock of external PPG debt as ofend-FY2019/20 . However, in recent years, commercial borrowing as a share of new disbursement has increased to about 50 percent, and in FY2020/21 it is expected to reach 68 percent, as the authorities borrowed US$1.3 billion through commercial loans to finance the Standard Gauge Railway project.  \n3. Domestic public debt h","cbCairvFDR8voIso","https://ap.wps.com/l/cbCairvFDR8voIso","pdf",390514,1,18,"English","en",105,"# Executive Summary\n## Risk rating and key drivers\n## External DSA findings\n## Public DSA findings and policy implications\n# Background\n## Public and publicly guaranteed debt level\n## Borrowing composition and trends\n## Domestic public debt and arrears considerations\n# Coverage of the Public Sector\n## Sub-sectors covered\n## Debt coverage rules and analysis assumptions","[{\"question\":\"What does the DSA conclude about Tanzania’s external debt distress risk?\",\"answer\":\"The DSA concludes that the risk of external debt distress has increased to a moderate level.\"},{\"question\":\"Why did the external debt risk rating rise under the updated framework?\",\"answer\":\"The increase is mainly attributed to the pandemic weakening export performance, particularly tourism receipts, and to lower debt burden thresholds under the revised debt carrying capacity classification.\"},{\"question\":\"What do the public debt results indicate and what policy priorities follow?\",\"answer\":\"The public DSA keeps the present value public-debt-to-GDP ratio around 30%, below the 55% threshold. It highlights the need for concessional external financing, stronger public investment management, and improved coverage and transparency of public sector debt statistics, including non-guaranteed debt.\"}]",1784486496,45,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":85,"head_meta":87,"extra_data":89,"updated_unix":27},"tanzania-joint-world-bank-imf-debt-sustainability-analysis-september-2021","",{"@graph":35,"@context":84},[36,53,67],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":52},"https://docshare.wps.com/document/tanzania-joint-world-bank-imf-debt-sustainability-analysis-september-2021/110665/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":61,"encodingFormat":60,"isAccessibleForFree":62,"interactionStatistic":63},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-19",true,{"@type":64,"interactionType":65,"userInteractionCount":4},"InteractionCounter",{"@type":66},"ViewAction",{"@type":68,"mainEntity":69},"FAQPage",[70,76,80],{"name":71,"@type":72,"acceptedAnswer":73},"What does the DSA conclude about Tanzania’s external debt distress risk?","Question",{"text":74,"@type":75},"The DSA concludes that the risk of external debt distress has increased to a moderate level.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"Why did the external debt risk rating rise under the updated framework?",{"text":79,"@type":75},"The increase is mainly attributed to the pandemic weakening export performance, particularly tourism receipts, and to lower debt burden thresholds under the revised debt carrying capacity classification.",{"name":81,"@type":72,"acceptedAnswer":82},"What do the public debt results indicate and what policy priorities follow?",{"text":83,"@type":75},"The public DSA keeps the present value public-debt-to-GDP ratio around 30%, below the 55% threshold. It highlights the need for concessional external financing, stronger public investment management, and improved coverage and transparency of public sector debt statistics, including non-guaranteed debt.","https://schema.org",{"og:url":51,"og:type":86,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":88,"canonical":51},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":91},[92,96,100,104,109,114,119,122,127,130,134],{"id":20,"doc_module":4,"doc_module_name":45,"category_name":93,"show_sort_weight":94,"slug":95},"Story & Novel",90,"story-novel",{"id":46,"doc_module":4,"doc_module_name":45,"category_name":97,"show_sort_weight":98,"slug":99},"Literature",80,"literature",{"id":52,"doc_module":4,"doc_module_name":45,"category_name":101,"show_sort_weight":102,"slug":103},"Exam",70,"exam",{"id":105,"doc_module":4,"doc_module_name":45,"category_name":106,"show_sort_weight":107,"slug":108},5,"Comic",60,"comic",{"id":110,"doc_module":4,"doc_module_name":45,"category_name":111,"show_sort_weight":112,"slug":113},6,"Technology",50,"technology",{"id":115,"doc_module":4,"doc_module_name":45,"category_name":116,"show_sort_weight":117,"slug":118},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":45,"category_name":12,"show_sort_weight":120,"slug":121},30,"research-report",{"id":123,"doc_module":4,"doc_module_name":45,"category_name":124,"show_sort_weight":125,"slug":126},9,"Religion & Spirituality",20,"religion-spirituality",{"id":125,"doc_module":4,"doc_module_name":45,"category_name":128,"show_sort_weight":125,"slug":129},"World Cup","world-cup",{"id":131,"doc_module":4,"doc_module_name":45,"category_name":132,"show_sort_weight":131,"slug":133},10,"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":45,"category_name":136,"show_sort_weight":105,"slug":137},19,"General","general"]