Tunisia Bags $2.9bn Loan

The IMF has approved a four-year $2.88bn Extended Fund Facility (EFF) for Tunisia “to support the country’s economic and financial reform program,” which “aims to promote more inclusive growth by consolidating macroeconomic stability, reform public institutions and improving the business climate.” The IMF is making $319.5mn available immediately with the remainder to be made available in eight further $319.5mn tranches over the 4-year duration of the program, subject to program reviews.

Though the IMF last month lowered its forecast for Tunisian 2016 growth from 3.0% to 2.0% it says that the economy has “shown resilience.” “Macroeconomic stability had been preserved and important reforms initiated” despite “important fiscal, external, structural and social challenges.” (CONTINUED - 296 WORDS)