ECONOMY

IMF releases fresh funds to Tunisia as new government sworn in

Tunisia's Defence Minister Ghazi Jeribi (front L-R), Justice Minister Hafedh Ben Salah, Prime Minister Mehdi Jomaa, President Moncef Marzouki and Interior Minister Lotfi Ben Jeddou pose for a photo after taking the oath of office at the Carthage Palace in Tunis on Wednesday. (Reuters)

The International Monetary Fund released more than $500 million in support for Tunisia on Wednesday, shortly after a new technocratic government headed by Prime Minister Mehdi Jomaa was sworn in.

The funds, part of a two-year, $1.76 billion loan agreed last June 7 to support reforms in the country’s finances, had been held up due to political instability in the country through much of last year.

The disbursement, of $506.7 million, is the second of the loan deal.

The IMF said it was approved after the combined first and second reviews of Tunisia’s progress under the program had been completed.

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Last Update: Thursday, 30 January 2014 KSA 01:52 - GMT 22:52
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IMF releases fresh funds to Tunisia as new government sworn in
The funds are part of a two-year loan agreed last June to support reforms in the country
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