Finance meeting to discuss Covid-19 recovery, cryptos

Wednesday November 24 2021
Currency pic

The use of bitcoin – the most popular digital currency – has risen sharply, notably in developing countries. PHOTO | FILE

By Noor Shija

Dodoma. Economic recovery from Covid-19 and digital currencies are among subjects which will be discussed during the Conference of Financial Institutions (Cofi) slated to take place from tomorrow.

Economic experts, financial institutions representatives, government officials and members of the private sector will gather to discuss priorities and policy options on how to accelerate economic growth.

Tanzania was not spared the effects of Covid-19 that disrupted economic activities around the word, with the government saying economic growth slowed to 4.8 percent in 2020 compared to average growth of seven percent in the past decade. Other topics include accelerating digitalisation for sustainable growth and digital currencies, where 300 participants are expected to share experiences and deliberate risks and regulatory issues.

The two-day meeting scheduled in Dodoma will also highlight the scaling up of private sector credit beyond Covid-19 pandemic.

“This year’s topics have been carefully selected in line with the current situation where the global economy is recovering from the effects of the Covid-19 pandemic experienced since the beginning of 2020, and digital technologies and currencies that are gaining popularity across the globe,” the Bank of Tanzania (BoT) said in a statement.

The meeting, themed “Tanzania Economy: Recovery from Covid-19 Pandemic and Beyond”, is expected to be opened by President Samia Suluhu Hassan.

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The conference, which is organised by BoT in collaboration with the Tanzania Bankers Association (TBA), will bring together experts from within and outside the country.

Cofi is a forum created in 1980 under the auspices of BoT for exchanging views and experiences on issues about the financial sector and the economy in general. The 19th edition of the biennial COFI took place in Dar es Salaam in November 2019.