TohidA/MONA · Datasets at Hugging Face

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2016-07-18

P1

R4

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.

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

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.

4

1

2015-04-30

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

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

NM

At R2, rescheduled test date. At R3, ongoing. At R4, not met, expected to be implemented by end-June 2016

4

1

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

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. At R4, onging

4

1

2016-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

5

1

2023-09-23

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

3/31/2015

M

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

5

1

2015-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Introduction of a new Tax Administration System (IDRAS)

2

10/31/2016

NM

Introduced at R4. Macroeconomic rationale: to improve tax administration. At R5, Not met. Three prior tenders to procure IDRAS failed and the fourth tender is underway, with expectations of an award being made in early 2017. The new system is expected to take three years to be fully implemented.

5

2

2016-10-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

6/30/2014

M

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

5

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

6/30/2014

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.

5

2

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

2/28/2015

MD

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

5

3

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

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

4

2/28/2015

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.

5

4

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a strategy to address TANESCO arrears.

5

9/30/2015

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.

5

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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.

5

6

2016-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

NM

Not met at R4. To be rescheduled for end-December 2016 to allow for new verification by the Internal Auditor General. At R5, Expected to be missed. Verification of arrears by the Internal Auditor General and Cabinet approval of paper recognizing the debt and setting out strategy for settlement are to be completed by end-December 2016. Issuance of non-cash bonds for settlement will be specified as a new benchmark.

5

6

2016-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

5

7

2016-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

NM

At R4, expected to be missed. To be rescheduled for end-December 2016 to allow for new verification by the Internal Auditor General. At R5, Expected to be missed. Verification of arrears by the Internal Auditor General and Cabinet approval of paper recognizing the debt and setting out strategy for settlement are to be completed by end-December 2016. Issuance of non-cash bonds for settlement will be specified as a new benchmark.

5

7

2016-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Issuance of non-cash bonds in settlement of arrears to PSPF on account of the 1999 reforms as well as to all pension funds on loans made to the government.

8

2/15/2017

SB

Introduced at R5.

5

8

2017-02-15

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

9/30/2014

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.

5

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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.

5

2

2015-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

3/31/2016

NM

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

5

3

2016-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

6/30/2015

MD

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

5

1

2015-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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.

5

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

9/1/2015

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.

5

3

2015-09-01

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

7/30/2016

M

Introduced at R4. Macroeconomic rationale: To prevent arrears accumulation. Met at R5. The 2016/17 budget speech warned suppliers that orders not generated through IFMS will not be honored, and a Treasury circular was issued in July 2016 to that effect.

5

4

2016-07-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Treasury Registrar to publish the audited accounts of public enterprises.

1

9/30/2015

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).

5

1

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

9/30/2014

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.

5

2

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

9/30/2016

NM

Introduced at R4. Macroeconomic rationale: to improve the monitoring of parastatals and transparency. At R5, Not met. The template of information was posted on the Treasury Registrar’s website in late October. The thirty largest parastatals will start providing data using this template starting in the third quarter of fiscal year 2016/17.

5

3

2016-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

BLANK

SB

21.1

2.1. Central bank operations and reforms

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

1

6/30/2014

M

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

5

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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.

5

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

BLANK

SB

21.1

2.1. Central bank operations and reforms

Establish a modeling and forecasting unit at BoT.

3

9/30/2015

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.

5

3

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

9/30/2016

NM

Introduced at R4. Macroeconomic rationale: To reduce excessive volatilities in short term money market interest rates. At R5, Not met. With the decision to make more active use of a policy rate in guiding monetary policy from 2017, the BoT proposes to link the Lombard rate to the policy rate. The focus now is in clarifying operational issues involved in the shift to interest rate targeting.

5

4

2016-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

BLANK

SB

21.1

2.1. Central bank operations and reforms

Prepare for the approval by the Bank of Tanzania’s management, an operational plan to implement an interest rate corridor, describing the width of the corridor, the market interest rate that is to be targeted, and how open market operations are to be conducted.

5

2/28/2017

SB

Introduced at R5.

5

2017-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

BLANK

SB

21.1

2.1. Central bank operations and reforms

Complete a review of the Bank of Tanzania’s collateral framework, with the aim of accepting government securities of all maturities as eligible collateral for accessing the BoT’s standing facilities and windows. The review will include proposals on calculating the discount on securities, and discuss a timeline for implementation.

6

3/31/2017

SB

Introduced at R5.

5

6

2017-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

BLANK

SB

23.1

4.1. Pension reforms

Approve pension harmonization guidelines.

1

9/30/2014

M

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

5

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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.

5

1

2015-04-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

NM

At R2, rescheduled test date. At R3, ongoing. At R4, not met, expected to be implemented by end-June 2016

5

1

2015-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

N/A

2017-01-09

P1

R5

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

6/30/2016

NM

Introduced at R3. Macroeconomic rationale: To improve liquidity in the foreign exchange market. At R4, onging. At R5, Not met. The NOP limit was raised back to 7.5 percent of core capital effective September 1, 2016, and the study on the use of FX swaps is expected to be completed by end-December 2016.

5

1

2016-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

6

1

2023-09-23

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

3/31/2015

M

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

6

1

2015-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

20.2

1.2. Revenue administration, including customs

Introduction of a new Tax Administration System (IDRAS)

2

10/31/2016

NM

Introduced at R4. Macroeconomic rationale: to improve tax administration. At R5, Not met. Three prior tenders to procure IDRAS failed and the fourth tender is underway, with expectations of an award being made in early 2017. The new system is expected to take three years to be fully implemented.

6

2

2016-10-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

6/30/2014

M

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

6

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

6/30/2014

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.

6

2

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

2/28/2015

MD

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

6

3

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

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

4

2/28/2015

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.

6

4

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Prepare a strategy to address TANESCO arrears.

5

9/30/2015

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.

6

5

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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.

6

2016-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

NM

Not met at R4. To be rescheduled for end-December 2016 to allow for new verification by the Internal Auditor General. At R5, Expected to be missed. Verification of arrears by the Internal Auditor General and Cabinet approval of paper recognizing the debt and setting out strategy for settlement are to be completed by end-December 2016. Issuance of non-cash bonds for settlement will be specified as a new benchmark.

6

2016-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

6

7

2016-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

NM

At R4, expected to be missed. To be rescheduled for end-December 2016 to allow for new verification by the Internal Auditor General. At R5, Expected to be missed. Verification of arrears by the Internal Auditor General and Cabinet approval of paper recognizing the debt and setting out strategy for settlement are to be completed by end-December 2016. Issuance of non-cash bonds for settlement will be specified as a new benchmark.

6

7

2016-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Issuance of non-cash bonds in settlement of arrears to PSPF on account of the 1999 reforms as well as to all pension funds on loans made to the government.

8

02/15/2017

MOD-DATE

Introduced at R5. At R6, not met, rescheduled to a new test date.

6

8

2017-02-15

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Issuance of non-cash bonds in settlement of arrears to PSPF on account of the 1999 reforms as well as to all pension funds on loans made to the government.

8

9/30/2017

SB

At R6, a new test date is reset.

6

8

2017-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

9/30/2014

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.

6

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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.

6

2

2015-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

3/31/2016

NM

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

6

3

2016-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

6/30/2015

MD

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

6

1

2015-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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.

6

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

9/1/2015

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.

6

3

2015-09-01

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

7/30/2016

M

Introduced at R4. Macroeconomic rationale: To prevent arrears accumulation. Met at R5. The 2016/17 budget speech warned suppliers that orders not generated through IFMS will not be honored, and a Treasury circular was issued in July 2016 to that effect.

6

4

2016-07-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Treasury Registrar to publish the audited accounts of public enterprises.

1

9/30/2015

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).

6

1

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

9/30/2014

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.

6

2

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

9/30/2016

NM

Introduced at R4. Macroeconomic rationale: to improve the monitoring of parastatals and transparency. At R5, Not met. The template of information was posted on the Treasury Registrar’s website in late October. The thirty largest parastatals will start providing data using this template starting in the third quarter of fiscal year 2016/17.

6

3

2016-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

21.1

2.1. Central bank operations and reforms

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

1

6/30/2014

M

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

6

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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.

6

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

21.1

2.1. Central bank operations and reforms

Establish a modeling and forecasting unit at BoT.

3

9/30/2015

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.

6

3

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

9/30/2016

NM

Introduced at R4. Macroeconomic rationale: To reduce excessive volatilities in short term money market interest rates. At R5, Not met. With the decision to make more active use of a policy rate in guiding monetary policy from 2017, the BoT proposes to link the Lombard rate to the policy rate. The focus now is in clarifying operational issues involved in the shift to interest rate targeting.

6

4

2016-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

21.1

2.1. Central bank operations and reforms

Prepare for the approval by the Bank of Tanzania’s management, an operational plan to implement an interest rate corridor, describing the width of the corridor, the market interest rate that is to be targeted, and how open market operations are to be conducted.

5

2/28/2017

M

Introduced at R5. At R6, Met. BoT staff presented operational details about the planned move to an interest rate-based framework to BoT management and the BoT’s Board, On January 27, the BoT’s Board approved the planned move later in the year. Preparations are underway for that move.

6

5

2017-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

21.1

2.1. Central bank operations and reforms

Complete a review of the Bank of Tanzania’s collateral framework, with the aim of accepting government securities of all maturities as eligible collateral for accessing the BoT’s standing facilities and windows. The review will include proposals on calculating the discount on securities, and discuss a timeline for implementation.

6

3/31/2017

M

Introduced at R5. At R6, met. The BoT decided to expand eligible collateral and has reviewed its Bank Law to see if any changes are needed. The BoT has also contacted the Attorney General’s office about their interpretation of the BoT Act in that regard. The BoT is awaiting the response from the Attorney General.

6

2017-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

21.1

2.1. Central bank operations and reforms

Issue operational guidelines for commercial banks outlining new principles for conducting monetary operations under a new interest rate-based monetary policy framework, setting rules for disseminating information on government securities’ auction results and overnight interest rates, and establishing eligibility criteria for banks’ access to standing facilities.

7

12/31/2017

SB

Introduced at R7, operational steps that are needed to move to an interest rate-based monetary policy framework

6

7

2017-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

21.1

2.1. Central bank operations and reforms

Expansion of eligible collateral by accepting government securities with longer remaining maturities (i.e.: over 90 days) for the BoT’s lending facilities

8

12/31/2017

SB

Introduced at R7, to improve the functioning of the BoT’s lending facilities

6

8

2017-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

21.1

2.1. Central bank operations and reforms

Introduce an electronic platform for the interbank market

9

12/31/2017

SB

Introduced at R7, to improve price discovery mechanism in the interbank market and enhance transparency of interbank transactions

6

9

2017-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

BLANK

SB

23.1

4.1. Pension reforms

Approve pension harmonization guidelines.

1

9/30/2014

M

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

6

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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.

6

1

2015-04-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

NM

At R2, rescheduled test date. At R3, ongoing. At R4, not met, expected to be implemented by end-June 2016

6

1

2015-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2017-06-23

P1

R6

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

6/30/2016

NM

Introduced at R3. Macroeconomic rationale: To improve liquidity in the foreign exchange market. At R4, onging. At R5, Not met. The NOP limit was raised back to 7.5 percent of core capital effective September 1, 2016, and the study on the use of FX swaps is expected to be completed by end-December 2016.

6

1

2016-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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

7

1

2023-09-23

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

1

2015-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

SB

20.2

1.2. Revenue administration, including customs

Introduction of a new Tax Administration System (IDRAS)

2

10/31/2016

NM

Introduced at R4. Macroeconomic rationale: to improve tax administration. At R5, Not met. Three prior tenders to procure IDRAS failed and the fourth tender is underway, with expectations of an award being made in early 2017. The new system is expected to take three years to be fully implemented.

7

2

2016-10-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

2

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

3

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

4

2015-02-28

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

5

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

6

2016-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

SB

20.3

1.3. Expenditure measures, including arrears clearance

Settlement of arrears to PSPF on account of 1999 reform.

6

12/31/2016

NM

Not met at R4. To be rescheduled for end-December 2016 to allow for new verification by the Internal Auditor General. At R5, Expected to be missed. Verification of arrears by the Internal Auditor General and Cabinet approval of paper recognizing the debt and setting out strategy for settlement are to be completed by end-December 2016. Issuance of non-cash bonds for settlement will be specified as a new benchmark.

7

6

2016-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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

7

2016-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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

NM

At R4, expected to be missed. To be rescheduled for end-December 2016 to allow for new verification by the Internal Auditor General. At R5, Expected to be missed. Verification of arrears by the Internal Auditor General and Cabinet approval of paper recognizing the debt and setting out strategy for settlement are to be completed by end-December 2016. Issuance of non-cash bonds for settlement will be specified as a new benchmark.

7

2016-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

SB

20.3

1.3. Expenditure measures, including arrears clearance

Issuance of non-cash bonds in settlement of arrears to PSPF on account of the 1999 reforms as well as to all pension funds on loans made to the government.

8

02/15/2017

MOD-DATE

Introduced at R5. At R6, not met, rescheduled to a new test date.

7

8

2017-02-15

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

SB

20.3

1.3. Expenditure measures, including arrears clearance

Issuance of non-cash bonds in settlement of arrears to PSPF on account of the 1999 reforms as well as to all pension funds on loans made to the government.

8

09/30/2017

NM

At R6, a new test date is reset. Not met at R7. The government decided to reform first the current pension schemes, including merging them into two.

7

8

2017-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

1

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

2

2015-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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

7

3

2016-03-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

1

2015-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

2

2014-12-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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

09/30/2015

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.

7

3

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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

07/31/2016

M

Introduced at R4. Macroeconomic rationale: To prevent arrears accumulation. Met at R5. The 2016/17 budget speech warned suppliers that orders not generated through IFMS will not be honored, and a Treasury circular was issued in July 2016 to that effect.

7

4

2016-07-31

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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).

7

1

2015-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

2

2014-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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

NM

Introduced at R4. Macroeconomic rationale: to improve the monitoring of parastatals and transparency. At R5, Not met. The template of information was posted on the Treasury Registrar’s website in late October. The thirty largest parastatals will start providing data using this template starting in the third quarter of fiscal year 2016/17.

7

3

2016-09-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

1

2014-06-30

N/A

714

TANZANIA

738

PSI

2014-07-16

2,014

2017-07-15

2,017

2018-01-15

N/A

2018-01-10

P1

R7

L

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.

7

2

2014-12-31

N/A