The IMF has recently reviewed progress made by Tunisia and Morocco to determine whether it would extend credit facilities to them in support of their reform programs. For Tunisia, the head of an IMF mission, Amine Mati, said on 4 February that negotiations to provide the country with a Precautionary Standby Arrangement amounting to $1.78bn were at “an advanced stage.” The mission also submitted its observations on the government’s program to the authorities and said that it plans to assist in fine tuning details of their reform program and in meeting Tunsisia’ 2013 budget objectives.

Mr Mati added “the mission notes that the country’s financing needs for the year ahead are met as a result of good revenue performance and the recent budget support disbursements received at end-2012, along with new financing sources already identified for 2013.” He also stated that that the arrangement with the IMF was being sought only as a precautionary measure to help support the country during the transition period, in order to cope with exogenous shocks from the global environment. (CONTINUED - 268 WORDS)