The IMF and the Tunisian authorities have reached a preliminary agreement on a $2.8bn, 48-month Extended Fund Facility (EFF) to support the government’s economic reforms, Amine Matti IMF mission chief says. The EFF will replace a $1.6bn facility which expired at end-2015. The IMF’s Executive Board will meet to consider Tunisia’s request in May.

Mr Matti says the loan facility will support the government’s economic reforms and plans to boost growth as outlined in the forthcoming five-year development plan. The IMF last week cut its 2016 forecast for Tunisian growth to 2%, down from a 3% forecast six months earlier. (CONTINUED - 303 WORDS)