The IMF and Burundi reach a US $78 million agreement, here the details you should know
RegionWeek Newsletter Vol V, Issue #182 | Thursday, July 29, 2021
This is RegionWeek Newsletter for the 5th Season (July-December 2021). The content targets Business leaders, Decision-makers, and Young professionals with interests in Burundi and East Africa. Subscribe to stay productive, and competitive in a pandemic and disrupted season.
Dear Readers,
In the evening of Wednesday July 28, a major update on Covid-19 in Burundi was announced by Dr. Thaddee Ndikumana the Burundian Minister of Health. Burundi is accepting Coronavirus vaccine from and funded by the Worldbank. A great shift for Burundi where officials always highlighted that is unnecessary for Burundians to get vaccinated.
“The World Bank will soon provide the vaccine against covid-19 to Burundi. The vaccine will be given to those who want it. However, the Burundian government did not sign the conditions for the donation of this vaccine.” Said Minister Ndikumana
According to the report of the Ministry of Public Health dated 25/07/2021, 2 medical districts in northern Burundi namely Kirundo and Kiremba are the most affected by the COVID19 virus. Out of 154 Covid-19 positive results, 147 were from Kirundo and Kiremba . According to another report released on 20/07/2021, the virus is on the rise in Burundi where over 570 people tested positive in just five days and it is likely that the northern regions are the most affected. Burundi's statistics to date show that, about 6,577 people have been infected with the virus, 6,002 of whom have recovered, 8 of whom have died.
78 million US dollars to deal with the economic and social impacts of the COVID-19 pandemic
The IMF and Burundi reach an ad-referendum agreement for financial assistance of US $ 78 million under the rapid credit facility. A team from the International Monetary Fund (IMF) led by Mrs. Mame Astou Diouf, head of mission for Burundi, carried out a virtual mission from June 23 to July 26, 2021 to conduct interviews relating to a request for financial assistance under the IMF's Quick Credit Facility (FCR).
At the end of the mission, Mrs. Mame Astou Diouf made the following statement:
“The Burundian authorities and the IMF staff have reached an ad referendum agreement on economic and structural policies that could be supported by a disbursement of 53.9 million SDRs (approximately 78 million US dollars) under the RCF. This disbursement will support the authorities' efforts to deal with the economic and social impacts of the COVID-19 pandemic. The ad referendum agreement will be subject to IMF management approval and the review and approval of its Executive Board in September 2021.
“The mission met H.E. Domitien Ndihokubwayo, Minister of Finance, Budget and Economic Planning (MFBPE); Mr. Jean Ciza, Governor of the Bank of the Republic of Burundi (BRB); Mr. Audace Niyonzima, First Vice-Governor of the BRB and Ms. Christine Niragira, Permanent Secretary of the MFBPE. The mission also met a delegation from the Office Burundais des Recettes led by Mr. Pacifique Munyeshongore, Commissioner General; a delegation of the Court of Auditors led by its president Mr. Elysé Ndaye and representatives of the industrial sector, commercial banks, the community of donors.
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Burundi has launched her own Trade Information Portal
Burundi has launched her own Trade Information Portal which is meant to map out all her imports, exports and transit procedures, fees and time. The next step after mapping will be to simplify and remove unnecessary and redundant bottlenecks. On 27rd July 2021, Burundi joined other Partner States to avail her own TIP on the internet as committed by the Burundi delegation during the 38th Meeting of the Sectoral Council on Trade, Industry, Finance and Investment held in Arusha on 28th May, 2021.
Trade Information Portals (TIPS) have already been launched and operationalised by Kenya, Rwanda, Tanzania and Uganda. The publication of Trade Information is a good sign that Burundi is committed to facilitating trade by making trade information more transparent. The Burundi TIP was funded by European Union Commission via Mark-up project with a technical support of International Trade Center (ITC), EAC Secretariat and UNCTAD. Burundi Trade information Portal can be accessed http://info.commerce.bi and the EAC Trade information Portals are accessible through https://tradehelpdesk.eac.int.
IN THE REGION
Tanzanian President Samia Suluhu Hassan has launched a vaccination campaign to protect the Tanzanians from the Covid-19 pandemic. President Hassan officially vaccinated on Wednesday. She was vaccinated with Johnson & Johnson's vaccine in his office in the capital, Dar es Salaam. When he launched the campaign, President Hassan announced that they would do everything possible to get the country to get the right vaccines for all those who want to be vaccinated. He was accompanied by the Prime Minister, the Chief Justice and other dignitaries who also got their jabs. He sought to reassure the public that there was no problem with the vaccines. He said he wanted to set an example for the people.
Thanks for reading
Fabrice Iranzi, Editor in Chief | RegionWeek.com
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