TohidA/MONA · Datasets at Hugging Face

687

TANZANIA

738

SCF

2012-07-06

2,012

2014-01-05

2,014

2014-04-30

N/A

2014-04-25

P1

R3

L

SB

20.5

1.5. Debt Management

Compile and share with IMF a quarterly report of all government debt guarantees within 6 weeks of the end of each quarter. This will start with the first quarter of 2012/13.

2

Quarterly

M

Introduced at R0. This SB applies to the 2nd Review under SCF and the 6th Review under the PSI. Macroeconomic rationale: The more frequent monitoring of debt guarantees will strengthen public debt management.

3

2

2023-09-23

N/A

687

TANZANIA

738

SCF

2012-07-06

2,012

2014-01-05

2,014

2014-04-30

N/A

2014-04-25

P1

R3

L

SB

21.2

2.2. Central bank auditing, transparency, and financial controls

Compile and publish full preliminary balance of payments data on a quarterly basis within 3 months of the end of the relevant quarter.

1

12/31/2012

MD

Introduced at R0. (End December 2012 for data through end-September 2012). This SB applies to the 2nd Review under the SCF and the 6th Review under the PSI. Macroeconomic rationale: Seeks to strengthen macroeconomic and policy analysis.

3

1

2012-12-31

N/A

687

TANZANIA

738

SCF

2012-07-06

2,012

2014-01-05

2,014

2014-04-30

N/A

2014-04-25

P1

R3

L

SB

21.2

2.2. Central bank auditing, transparency, and financial controls

Compile and publish full preliminary balance of payments data on a quarterly basis within 3 months of the end of the relevant quarter.

1

Quarterly

MD

Introduced at R0. (End December 2012 for data through end-September 2012). This SB applies to the 2nd Review under the SCF and the 6th Review under the PSI. Macroeconomic rationale: Seeks to strengthen macroeconomic and policy analysis.

3

1

2023-09-23

N/A

687

TANZANIA

738

SCF

2012-07-06

2,012

2014-01-05

2,014

2014-04-30

N/A

2014-04-25

P1

R3

L

SB

24

5. Public enterprise reform and pricing (non financial sector)

Prepare an action plan to restore Tanesco’s financial sustainability.

1

01/31/2013

MD

Introduced at R1. Macroeconomic rationale: Addresses contingent fiscal liabilities by ensuring financial viability of TANESCO.

3

1

2013-01-31

N/A

687

TANZANIA

738

SCF

2012-07-06

2,012

2014-01-05

2,014

2014-04-30

N/A

2014-04-25

P1

R3

L

SB

24.1

5.1. Public enterprise pricing and subsidies

Regulatory authority completion of cost of service study for the power utility, TANESCO, and implementation of any findings in regard to the power tariff regime.

1

08/31/2012

NM

Introduced at R0. This SB applies to the 1st Review under the SCF and the 5th Review under the PSI. Macroeconomic rationale: Addresses contingent fiscal liabilities by ensuring financial viability of TANESCO.

3

1

2012-08-31

N/A

687

TANZANIA

738

SCF

2012-07-06

2,012

2014-01-05

2,014

2014-04-30

N/A

2014-04-25

P1

R3

L

SB

30.2

11.2. Natural resource and agricultural policies (excl. public enterprises and pricing)

The Ministry of Finance, Planning Commission, and TRA will prepare a report identifying steps to be taken to prepare Tanzania’s macroeconomic management for the new gas economy, and identifying the nature of any corresponding technical assistance needs.

1

12/31/2012

MOD-DATE

Introduced at R0. This SB applies to the 2nd Review under the SCF and the 6th Review under the PSI. Macroeconomic rationale: Supports early preparation for major macroeconomic challenges in the years ahead. At R1, reset to end-April 2013.

3

1

2012-12-31

N/A

687

TANZANIA

738

SCF

2012-07-06

2,012

2014-01-05

2,014

2014-04-30

N/A

2014-04-25

P1

R3

L

SB

30.2

11.2. Natural resource and agricultural policies (excl. public enterprises and pricing)

The Ministry of Finance, Planning Commission, and TRA will prepare a report identifying steps to be taken to prepare Tanzania’s macroeconomic management for the new gas economy, and identifying the nature of any corresponding technical assistance needs.

1

04/30/2013

NM

At R1, new test date.

3

1

2013-04-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2014-07-16

P1

R0

E

SB

20.2

1.2. Revenue administration, including customs

Prepare a policy paper on natural gas revenue management framework that fully integrates with the budget.

1

03/31/2015

SB

Introduced at R0. Macroeconomic rationale: To strengthen fiscal sustainability and improve transparency in the use of natural gas resources.

0

1

2015-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2014-07-16

P1

R0

E

SB

20.3

1.3. Expenditure measures, including arrears clearance

Provide an allocation in the 2014/15 budget for centralized clearance of domestic arrears. Any payment from this centralized budget should be backed by a list of verified eligible creditors, in line with the priorities of a repayment strategy.

1

06/30/2014

SB

Introduced at R0. Macroeconomic rationale: To accelerate clearance of domestic expenditure arrears.

0

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2014-07-16

P1

R0

E

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a plan to address the outstanding and future obligations to pre-1999 pensioners of the PSPF.

2

06/30/2014

SB

Introduced at R0. Macroeconomic rationale: To limit contingent liabilities.

0

2

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2014-07-16

P1

R0

E

SB

20.5

1.5. Debt Management

Prepare the first quarterly reports on (i) all external debt contracts signed and guaranteed by government, (ii) borrowing by public enterprises, and (iii) projected debt service on public debt.

1

09/30/2014

SB

Introduced at R0. Macroeconomic rationale: To enhance public debt management.

0

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2014-07-16

P1

R0

E

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Prepare and publish a fiscal risk statement or subcomponents of it (e.g., a listing of all PPP projects with their key features and information on government guarantees).

1

06/30/2015

SB

Introduced at R0. Macroeconomic rationale: To enhance fiscal risk management.

0

1

2015-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2014-07-16

P1

R0

E

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Treasury Registrar to publish the audited accounts of public enterprises.

1

09/30/2015

SB

Introduced at R0. Macroeconomic rationale: To improve transparency and accountability of public enterprises.

0

1

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2014-07-16

P1

R0

E

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Include tabular information on each parastatal’s revenues, expenditures, and profits and losses in Treasury Registrar Statements to Parliament (beginning with the September 2014 statements for the year ended June 30th, 2014).

2

09/30/2014

SB

Introduced at R0. Macroeconomic rationale: To improve transparency and accountability of public enterprises.

0

2

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2014-07-16

P1

R0

E

SB

21.1

2.1. Central bank operations and reforms

Submit the draft regulations on consolidated supervision to Attorney General’s Office.

1

06/30/2014

SB

Introduced at R0. Macroeconomic rationale: To modernize the BoT's supervisory framework to better supervise consolidated financial firms.

0

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2014-07-16

P1

R0

E

SB

21.1

2.1. Central bank operations and reforms

Conduct a review of the relationship between the interbank cash market rates and excess reserves of commercial banks as a step to transitioning to a more interest rate-based monetary management framework.

2

12/31/2014

SB

Introduced at R0. Macroeconomic rationale: To prepare BoT's gradual shift to a price-based monetary framework.

0

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2014-07-16

P1

R0

E

SB

23.1

4.1. Pension reforms

Approve pension harmonization guidelines.

1

09/30/2014

SB

Introduced at R0. Macroeconomic rationale: To limit contingent liabilities.

0

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

20.2

1.2. Revenue administration, including customs

Prepare a policy paper on natural gas revenue management framework that fully integrates with the budget.

1

03/31/2015

SB

Introduced at R0. Macroeconomic rationale: To strengthen fiscal sustainability and improve transparency in the use of natural gas resources.

1

2015-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Provide an allocation in the 2014/15 budget for centralized clearance of domestic arrears. Any payment from this centralized budget should be backed by a list of verified eligible creditors, in line with the priorities of a repayment strategy.

1

06/30/2014

M

Introduced at R0. Macroeconomic rationale: To accelerate clearance of domestic expenditure arrears.

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a plan to address the outstanding and future obligations to pre-1999 pensioners of the PSPF.

2

06/30/2014

NM

Introduced at R0. Macroeconomic rationale: To limit contingent liabilities. At R1, not met. The MoF has expanded the scope of the work to address outstanding government obligations to all the pension funds. A strategy is expected to be prepared by end-February 2015.

1

2

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a report on verification of arrears as of end-June 2014 that covers all ministries, departments and agencies.

3

02/28/2015

SB

Introduced at R1. Macroeconomic rationale: To accelerate settlement of arrears.

1

3

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare and adopt a strategy to address government arrears to pension funds.

4

02/28/2015

SB

Introduced at R1. Macroeconomic rationale: To improve the sustainability of the funds.

1

4

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

20.5

1.5. Debt Management

Prepare the first quarterly reports on (i) all external debt contracts signed and guaranteed by government, (ii) borrowing by public enterprises, and (iii) projected debt service on public debt.

1

09/30/2014

NM

Introduced at R0. Macroeconomic rationale: To enhance public debt management. At R1, not met. The report was produced in November, but did not include information on borrowing by public enterprises and debt service projections. The authorities plan to address these shortcomings before publication by end-December.

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Prepare and publish a fiscal risk statement or subcomponents of it (e.g., a listing of all PPP projects with their key features and information on government guarantees).

1

06/30/2015

SB

Introduced at R0. Macroeconomic rationale: To enhance fiscal risk management.

1

2015-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Paymaster General (PMG) to issue a new Circular requiring quarterly reporting of payment arrears to include a clear definition of arrears, an extension of the reporting coverage (e.g. arrears on tax refunds and debt service), an additional aging category to identify arrears of more than one year, documentation requirements, including a proof that a claim was registered in the IFMS, and a requirement that internal auditors in MDAs prescreen the arrears data before submission to the Ministry of Finance.

2

12/31/2014

SB

Introduced at R1. Macroeconomic rationale: To enhance monitoring of arrears.

1

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Treasury Registrar to publish the audited accounts of public enterprises.

1

09/30/2015

SB

Introduced at R0. Macroeconomic rationale: To improve transparency and accountability of public enterprises. At R1, no status of implementation is reported.

1

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Include tabular information on each parastatal’s revenues, expenditures, and profits and losses in Treasury Registrar Statements to Parliament (beginning with the September 2014 statements for the year ended June 30th, 2014).

2

09/30/2014

MD

Introduced at R0. Macroeconomic rationale: To improve transparency and accountability of public enterprises. At R1, implemented with delay. The report was published in November.

1

2

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

21.1

2.1. Central bank operations and reforms

Submit the draft regulations on consolidated supervision to Attorney General’s Office.

1

06/30/2014

M

Introduced at R0. Macroeconomic rationale: To modernize the BoT's supervisory framework to better supervise consolidated financial firms.

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

21.1

2.1. Central bank operations and reforms

Conduct a review of the relationship between the interbank cash market rates and excess reserves of commercial banks as a step to transitioning to a more interest rate-based monetary management framework.

2

12/31/2014

SB

Introduced at R0. Macroeconomic rationale: To prepare BoT's gradual shift to a price-based monetary framework.

1

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

23.1

4.1. Pension reforms

Approve pension harmonization guidelines.

1

09/30/2014

M

Introduced at R0. Macroeconomic rationale: To limit contingent liabilities.

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-01-07

P1

R1

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Unify the Statutory Minimum Reserve and the clearing accounts that banks maintain at the BoT and implement partial reserve averaging for reserve requirements.

1

04/30/2015

SB

Introduced at R1. Macroeconomic rationale: To reduce excessive volatilities in short term money market interest rates.

1

2015-04-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.2

1.2. Revenue administration, including customs

Prepare a policy paper on natural gas revenue management framework that fully integrates with the budget.

1

03/31/2015

M

Introduced at R0. Macroeconomic rationale: To strengthen fiscal sustainability and improve transparency in the use of natural gas resources.

2

1

2015-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Provide an allocation in the 2014/15 budget for centralized clearance of domestic arrears. Any payment from this centralized budget should be backed by a list of verified eligible creditors, in line with the priorities of a repayment strategy.

1

06/30/2014

M

Introduced at R0. Macroeconomic rationale: To accelerate clearance of domestic expenditure arrears.

2

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a plan to address the outstanding and future obligations to pre-1999 pensioners of the PSPF.

2

06/30/2014

NM

Introduced at R0. Macroeconomic rationale: To limit contingent liabilities. At R1, not met. The MoF has expanded the scope of the work to address outstanding government obligations to all the pension funds. A strategy is expected to be prepared by end-February 2015.

2

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a report on verification of arrears as of end-June 2014 that covers all ministries, departments and agencies.

3

02/28/2015

MD

Introduced at R1. Macroeconomic rationale: To accelerate settlement of arrears. At R2, met with a delay in April 2015.

2

3

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare and adopt a strategy to address government arrears to pension funds.

4

02/28/2015

NM

Introduced at R1. Macroeconomic rationale: To improve the sustainability of the funds. At R2, Not met. A broad strategy was discussed by the Cabinet and approved in March 2015, but required more work before finalization.

2

4

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a strategy to address TANESCO arrears.

5

09/30/2015

SB

Introduced at R2. Macroeconomic rationale: To enhance fiscal risk management.

2

5

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.5

1.5. Debt Management

Prepare the first quarterly reports on (i) all external debt contracts signed and guaranteed by government, (ii) borrowing by public enterprises, and (iii) projected debt service on public debt.

1

09/30/2014

NM

Introduced at R0. Macroeconomic rationale: To enhance public debt management. At R1, not met. The report was produced in November, but did not include information on borrowing by public enterprises and debt service projections. The authorities plan to address these shortcomings before publication by end-December.

2

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.5

1.5. Debt Management

Update the medium-term debt management strategy, and obtain approval by the Minister for Finance.

2

12/31/2015

SB

Introduced at R2. Macroeconomic rationale: To enhance public debt management.

2

2015-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Prepare and publish a fiscal risk statement or subcomponents of it (e.g., a listing of all PPP projects with their key features and information on government guarantees).

1

06/30/2015

SB

Introduced at R0. Macroeconomic rationale: To enhance fiscal risk management. At R2, in progress.

2

1

2015-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Paymaster General (PMG) to issue a new Circular requiring quarterly reporting of payment arrears to include a clear definition of arrears, an extension of the reporting coverage (e.g. arrears on tax refunds and debt service), an additional aging category to identify arrears of more than one year, documentation requirements, including a proof that a claim was registered in the IFMS, and a requirement that internal auditors in MDAs prescreen the arrears data before submission to the Ministry of Finance.

2

12/31/2014

M

Introduced at R1. Macroeconomic rationale: To enhance monitoring of arrears.

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Reintroduce commitment controls in IFMS, which will prevent commitments to be made in the system that are inconsistent with budget appropriations and cash releases.

3

09/01/2015

SB

Introduced at R2. Macroeconomic rationale: To reduce the risk of arrears accumulation.

2

3

2015-09-01

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Treasury Registrar to publish the audited accounts of public enterprises.

1

09/30/2015

SB

Introduced at R0. Macroeconomic rationale: To improve transparency and accountability of public enterprises. At R1, no status of implementation is reported. At R2, in progress.

2

1

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Include tabular information on each parastatal’s revenues, expenditures, and profits and losses in Treasury Registrar Statements to Parliament (beginning with the September 2014 statements for the year ended June 30th, 2014).

2

09/30/2014

MD

Introduced at R0. Macroeconomic rationale: To improve transparency and accountability of public enterprises. At R1, implemented with delay. The report was published in November.

2

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

21.1

2.1. Central bank operations and reforms

Submit the draft regulations on consolidated supervision to Attorney General’s Office.

1

06/30/2014

M

Introduced at R0. Macroeconomic rationale: To modernize the BoT's supervisory framework to better supervise consolidated financial firms.

2

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

21.1

2.1. Central bank operations and reforms

Conduct a review of the relationship between the interbank cash market rates and excess reserves of commercial banks as a step to transitioning to a more interest rate-based monetary management framework.

2

12/31/2014

M

Introduced at R0. Macroeconomic rationale: To prepare BoT's gradual shift to a price-based monetary framework.

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

21.1

2.1. Central bank operations and reforms

Establish a modeling and forecasting unit at BoT.

3

09/30/2015

SB

Introduced at R2. Macroeconomic rationale: To improve liquidity and inflation forecast and facilitate the shift to a price-based monetary framework.

2

3

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

23.1

4.1. Pension reforms

Approve pension harmonization guidelines.

1

09/30/2014

M

Introduced at R0. Macroeconomic rationale: To limit contingent liabilities.

2

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Unify the Statutory Minimum Reserve and the clearing accounts that banks maintain at the BoT and implement partial reserve averaging for reserve requirements.

1

04/30/2015

MOD-DATE

Introduced at R1. Macroeconomic rationale: To reduce excessive volatilities in short term money market interest rates. At R2, Not met, in light of the decision to tighten liquidity following excessive volatility of the Shilling. Proposed to be rescheduled for end-2015.

2

1

2015-04-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2015-07-06

P1

R2

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Unify the Statutory Minimum Reserve and the clearing accounts that banks maintain at the BoT and implement partial reserve averaging for reserve requirements.

1

12/31/2015

SB

At R2, rescheduled test date.

2

1

2015-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Government decision by early January 2016 on a revised budget framework along the lines described in MEFP ¶21.

1

Third Review Prior action

M

N/A

3

1

2023-09-23

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.2

1.2. Revenue administration, including customs

Prepare a policy paper on natural gas revenue management framework that fully integrates with the budget.

1

03/31/2015

M

Introduced at R0. Macroeconomic rationale: To strengthen fiscal sustainability and improve transparency in the use of natural gas resources.

3

1

2015-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Provide an allocation in the 2014/15 budget for centralized clearance of domestic arrears. Any payment from this centralized budget should be backed by a list of verified eligible creditors, in line with the priorities of a repayment strategy.

1

06/30/2014

M

Introduced at R0. Macroeconomic rationale: To accelerate clearance of domestic expenditure arrears.

3

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a plan to address the outstanding and future obligations to pre-1999 pensioners of the PSPF.

2

06/30/2014

NM

Introduced at R0. Macroeconomic rationale: To limit contingent liabilities. At R1, not met. The MoF has expanded the scope of the work to address outstanding government obligations to all the pension funds. A strategy is expected to be prepared by end-February 2015.

3

2

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a report on verification of arrears as of end-June 2014 that covers all ministries, departments and agencies.

3

02/28/2015

MD

Introduced at R1. Macroeconomic rationale: To accelerate settlement of arrears. At R2, met with a delay in April 2015.

3

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare and adopt a strategy to address government arrears to pension funds.

4

02/28/2015

NM

Introduced at R1. Macroeconomic rationale: To improve the sustainability of the funds. At R2, Not met. A broad strategy was discussed by the Cabinet and approved in March 2015, but required more work before finalization.

3

4

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a strategy to address TANESCO arrears.

5

09/30/2015

NM

Introduced at R2. Macroeconomic rationale: To enhance fiscal risk management. At R3, Not met. A first draft strategy was produced in September 2015, but required further work to be completed.

3

5

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Settlement of arrears to PSPF on account of 1999 reform.

6

03/31/2016

SB

Introduced at R3. Macroeconomic rationale: To address fiscal risks.

3

6

2016-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Settlement of arrears to pension funds on loans made to government.

7

06/30/2016

SB

Introduced at R3. Macroeconomic rationale: To address fiscal risks.

3

7

2016-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.5

1.5. Debt Management

Prepare the first quarterly reports on (i) all external debt contracts signed and guaranteed by government, (ii) borrowing by public enterprises, and (iii) projected debt service on public debt.

1

09/30/2014

NM

Introduced at R0. Macroeconomic rationale: To enhance public debt management. At R1, not met. The report was produced in November, but did not include information on borrowing by public enterprises and debt service projections. The authorities plan to address these shortcomings before publication by end-December.

3

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.5

1.5. Debt Management

Update the medium-term debt management strategy, and obtain approval by the Minister for Finance.

2

12/31/2015

SB

Introduced at R2. Macroeconomic rationale: To enhance public debt management. At R3, ongoing.

3

2

2015-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.5

1.5. Debt Management

Government to approve the National Debt Management Policy and amendments of the Government Loans, Guarantees and Grants Act.

3

03/31/2016

SB

Introduced at R3. Macroeconomic rationale: To enhance public debt management.

3

2016-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Prepare and publish a fiscal risk statement or subcomponents of it (e.g., a listing of all PPP projects with their key features and information on government guarantees).

1

06/30/2015

MD

Introduced at R0. Macroeconomic rationale: To enhance fiscal risk management. At R2, in progress. At R3, Statement published in November 2015.

3

1

2015-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Paymaster General (PMG) to issue a new Circular requiring quarterly reporting of payment arrears to include a clear definition of arrears, an extension of the reporting coverage (e.g. arrears on tax refunds and debt service), an additional aging category to identify arrears of more than one year, documentation requirements, including a proof that a claim was registered in the IFMS, and a requirement that internal auditors in MDAs prescreen the arrears data before submission to the Ministry of Finance.

2

12/31/2014

M

Introduced at R1. Macroeconomic rationale: To enhance monitoring of arrears.

3

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Reintroduce commitment controls in IFMS, which will prevent commitments to be made in the system that are inconsistent with budget appropriations and cash releases.

3

09/01/2015

NM

Introduced at R2. Macroeconomic rationale: To reduce the risk of arrears accumulation. At R3, Not met. A circular limiting commitments to cash releases was issued before the deadline but IFMS still needs to be reprogrammed to reflect these changes.

3

2015-09-01

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Treasury Registrar to publish the audited accounts of public enterprises.

1

09/30/2015

MD

Introduced at R0. Macroeconomic rationale: To improve transparency and accountability of public enterprises. At R1, no status of implementation is reported. At R2, in progress. At R3, The accounts of all 80 enterprises whose audits have been completed were available online in early December (2015).

3

1

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Include tabular information on each parastatal’s revenues, expenditures, and profits and losses in Treasury Registrar Statements to Parliament (beginning with the September 2014 statements for the year ended June 30th, 2014).

2

09/30/2014

MD

Introduced at R0. Macroeconomic rationale: To improve transparency and accountability of public enterprises. At R1, implemented with delay. The report was published in November.

3

2

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

21.1

2.1. Central bank operations and reforms

Submit the draft regulations on consolidated supervision to Attorney General’s Office.

1

06/30/2014

M

Introduced at R0. Macroeconomic rationale: To modernize the BoT's supervisory framework to better supervise consolidated financial firms.

3

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

21.1

2.1. Central bank operations and reforms

Conduct a review of the relationship between the interbank cash market rates and excess reserves of commercial banks as a step to transitioning to a more interest rate-based monetary management framework.

2

12/31/2014

M

Introduced at R0. Macroeconomic rationale: To prepare BoT's gradual shift to a price-based monetary framework.

3

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

21.1

2.1. Central bank operations and reforms

Establish a modeling and forecasting unit at BoT.

3

09/30/2015

M

Introduced at R2. Macroeconomic rationale: To improve liquidity and inflation forecast and facilitate the shift to a price-based monetary framework. At R3, met.

3

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

23.1

4.1. Pension reforms

Approve pension harmonization guidelines.

1

09/30/2014

M

Introduced at R0. Macroeconomic rationale: To limit contingent liabilities.

3

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Unify the Statutory Minimum Reserve and the clearing accounts that banks maintain at the BoT and implement partial reserve averaging for reserve requirements.

1

04/30/2015

MOD-DATE

Introduced at R1. Macroeconomic rationale: To reduce excessive volatilities in short term money market interest rates. At R2, Not met, in light of the decision to tighten liquidity following excessive volatility of the Shilling. Proposed to be rescheduled for end-2015.

3

1

2015-04-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Unify the Statutory Minimum Reserve and the clearing accounts that banks maintain at the BoT and implement partial reserve averaging for reserve requirements.

1

12/31/2015

SB

At R2, rescheduled test date. At R3, ongoing.

3

1

2015-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-01-22

P1

R3

BLANK

SB

26

7. Exchange systems and restrictions (current and capital)

Produce a study making recommendations on the use of foreign exchange swaps between commercial banks and banks’ NOP limit.

1

06/30/2016

SB

Introduced at R3. Macroeconomic rationale: To improve liquidity in the foreign exchange market.

3

1

2016-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Government decision by early January 2016 on a revised budget framework along the lines described in MEFP ¶21.

1

Third Review Prior action

M

N/A

4

1

2023-09-23

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.2

1.2. Revenue administration, including customs

Prepare a policy paper on natural gas revenue management framework that fully integrates with the budget.

1

03/31/2015

M

Introduced at R0. Macroeconomic rationale: To strengthen fiscal sustainability and improve transparency in the use of natural gas resources.

4

1

2015-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.2

1.2. Revenue administration, including customs

Introduction of a new Tax Administration System (IDRAS)

2

10/31/2016

SB

Introduced at R4. Macroeconomic rationale: to improve tax administration

4

2

2016-10-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Provide an allocation in the 2014/15 budget for centralized clearance of domestic arrears. Any payment from this centralized budget should be backed by a list of verified eligible creditors, in line with the priorities of a repayment strategy.

1

06/30/2014

M

Introduced at R0. Macroeconomic rationale: To accelerate clearance of domestic expenditure arrears.

4

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a plan to address the outstanding and future obligations to pre-1999 pensioners of the PSPF.

2

06/30/2014

NM

Introduced at R0. Macroeconomic rationale: To limit contingent liabilities. At R1, not met. The MoF has expanded the scope of the work to address outstanding government obligations to all the pension funds. A strategy is expected to be prepared by end-February 2015.

4

2

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a report on verification of arrears as of end-June 2014 that covers all ministries, departments and agencies.

3

02/28/2015

MD

Introduced at R1. Macroeconomic rationale: To accelerate settlement of arrears. At R2, met with a delay in April 2015.

4

3

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare and adopt a strategy to address government arrears to pension funds.

4

02/28/2015

NM

Introduced at R1. Macroeconomic rationale: To improve the sustainability of the funds. At R2, Not met. A broad strategy was discussed by the Cabinet and approved in March 2015, but required more work before finalization.

4

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a strategy to address TANESCO arrears.

5

09/30/2015

NM

Introduced at R2. Macroeconomic rationale: To enhance fiscal risk management. At R3, Not met. A first draft strategy was produced in September 2015, but required further work to be completed.

4

5

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Settlement of arrears to PSPF on account of 1999 reform.

6

03/31/2016

MOD-DATE

Introduced at R3. Macroeconomic rationale: To address fiscal risks. Not met at R4. To be rescheduled for end-December 2016 to allow for new verification by the Internal Auditor General.

4

6

2016-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Settlement of arrears to PSPF on account of 1999 reform.

6

12/31/2016

SB

Not met at R4. To be rescheduled for end-December 2016 to allow for new verification by the Internal Auditor General

4

6

2016-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Settlement of arrears to pension funds on loans made to government.

7

06/30/2016

MOD-DATE

Introduced at R3. Macroeconomic rationale: To address fiscal risks. At R4, expected to be missed. To be rescheduled for end-December 2016 to allow for new verification by the Internal Auditor General

4

7

2016-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Settlement of arrears to pension funds on loans made to government.

7

12/31/2016

SB

At R4, expected to be missed. To be rescheduled for end-December 2016 to allow for new verification by the Internal Auditor General

4

7

2016-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.5

1.5. Debt Management

Prepare the first quarterly reports on (i) all external debt contracts signed and guaranteed by government, (ii) borrowing by public enterprises, and (iii) projected debt service on public debt.

1

09/30/2014

NM

Introduced at R0. Macroeconomic rationale: To enhance public debt management. At R1, not met. The report was produced in November, but did not include information on borrowing by public enterprises and debt service projections. The authorities plan to address these shortcomings before publication by end-December.

4

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.5

1.5. Debt Management

Update the medium-term debt management strategy, and obtain approval by the Minister for Finance.

2

12/31/2015

M

Introduced at R2. Macroeconomic rationale: To enhance public debt management. At R3, ongoing. At R4, met.

4

2

2015-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.5

1.5. Debt Management

Government to approve the National Debt Management Policy and amendments of the Government Loans, Guarantees and Grants Act.

3

03/31/2016

NM

Introduced at R3. Macroeconomic rationale: To enhance public debt management. Not met at R4. Expected to be implemented by end-July 2016

4

3

2016-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Prepare and publish a fiscal risk statement or subcomponents of it (e.g., a listing of all PPP projects with their key features and information on government guarantees).

1

06/30/2015

MD

Introduced at R0. Macroeconomic rationale: To enhance fiscal risk management. At R2, in progress. At R3, Statement published in November 2015.

4

1

2015-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Paymaster General (PMG) to issue a new Circular requiring quarterly reporting of payment arrears to include a clear definition of arrears, an extension of the reporting coverage (e.g. arrears on tax refunds and debt service), an additional aging category to identify arrears of more than one year, documentation requirements, including a proof that a claim was registered in the IFMS, and a requirement that internal auditors in MDAs prescreen the arrears data before submission to the Ministry of Finance.

2

12/31/2014

M

Introduced at R1. Macroeconomic rationale: To enhance monitoring of arrears.

4

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Reintroduce commitment controls in IFMS, which will prevent commitments to be made in the system that are inconsistent with budget appropriations and cash releases.

3

09/01/2015

NM

Introduced at R2. Macroeconomic rationale: To reduce the risk of arrears accumulation. At R3, Not met. A circular limiting commitments to cash releases was issued before the deadline but IFMS still needs to be reprogrammed to reflect these changes.

4

3

2015-09-01

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Launch a new public awareness campaign to warn suppliers that orders not generated through IFMIS will not be honored.

4

07/30/2016

SB

Introduced at R4. Macroeconomic rationale: To prevent arrears accumulation

4

2016-07-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Treasury Registrar to publish the audited accounts of public enterprises.

1

09/30/2015

MD

Introduced at R0. Macroeconomic rationale: To improve transparency and accountability of public enterprises. At R1, no status of implementation is reported. At R2, in progress. At R3, The accounts of all 80 enterprises whose audits have been completed were available online in early December (2015).

4

1

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Include tabular information on each parastatal’s revenues, expenditures, and profits and losses in Treasury Registrar Statements to Parliament (beginning with the September 2014 statements for the year ended June 30th, 2014).

2

09/30/2014

MD

Introduced at R0. Macroeconomic rationale: To improve transparency and accountability of public enterprises. At R1, implemented with delay. The report was published in November.

4

2

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Office of Treasury Registrar to publish first quarterly report on major Public Institution and Statutory Corporations’ revenues, expenditures, and profits and losses

3

09/30/2016

SB

Introduced at R4. Macroeconomic rationale: to improve the monitoring of parastatals and transparency

4

3

2016-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

21.1

2.1. Central bank operations and reforms

Submit the draft regulations on consolidated supervision to Attorney General’s Office.

1

06/30/2014

M

Introduced at R0. Macroeconomic rationale: To modernize the BoT's supervisory framework to better supervise consolidated financial firms.

4

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

21.1

2.1. Central bank operations and reforms

Conduct a review of the relationship between the interbank cash market rates and excess reserves of commercial banks as a step to transitioning to a more interest rate-based monetary management framework.

2

12/31/2014

M

Introduced at R0. Macroeconomic rationale: To prepare BoT's gradual shift to a price-based monetary framework.

4

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

21.1

2.1. Central bank operations and reforms

Establish a modeling and forecasting unit at BoT.

3

09/30/2015

M

Introduced at R2. Macroeconomic rationale: To improve liquidity and inflation forecast and facilitate the shift to a price-based monetary framework. At R3, met.

4

3

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

BLANK

SB

21.1

2.1. Central bank operations and reforms

Carry out a study to determine an approach of setting the Lombard rate to make it more predictable (in order to enhance stability of the short-term interest rates) while consistent with the monetary policy stance and ensuring that the facility is not abused.

4

09/30/2016

SB

Introduced at R4. Macroeconomic rationale: To reduce excessive volatilities in short term money market interest rates.

4

2016-09-30

N/A