The IMF has completed the fourth review of Tunisia’s economic performance under a two-year program supported by a Stand-By Arrangement (SBA) for $1.74bn approved in June 2013. This completion allows for the immediate release of the fourth tranche of $217.5mn, bringing the total disbursements to Tunisia to about $1.1bn. The third tranche was approved in May (MEES, 23 May).
Following the Executive Board discussion on Tunisia, the IMF’s Deputy Managing Director Naoyuki Shinohara said that “Tunisia is set to complete its political transition with the advent of elections in the last quarter of 2014,” but he warns the economic situation remains difficult, with timid growth, high unemployment, and rising external imbalances which are piling pressure on the exchange rate and reserves. (CONTINUED - 270 WORDS)