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Tanzania says it has begun negotiations over debt relief to shore up economy

Tanzania's President John Magufuli leaves after inspecting a guard of honour during his official visit to Nairobi, Kenya October 31, 2016

Tanzania has begun negotiations with creditors over a G-20 nations initiative over debt relief, the finance minister said on Thursday, part of efforts to mitigate against negative economic effects sparked by the coronavirus outbreak.

The initiative is geared towards delaying debt repayments beginning in May to December 2020, freeing up cash for governments to use for measures to ease the economic impact of COVID-19.

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