ECONOMY

IMF approves $217m loan disbursement to Tunisia

IMF Managing Director Christine Lagarde arrives at a news conference in Tokyo. (File photo: Reuters)

style="text-align: left;">The International Monetary Fund said on Friday it had completed a review of its loan program for Tunisia, clearing the way for disbursement of about $217.5 million.

The latest disbursement brings the total funds released under the program to about $1.1 billion, the IMF said.

The Fund agreed last year to support Tunisia with a two-year credit worth about $1.74 billion. In exchange, Tunisia agreed to follow certain economic polices, such as keeping its deficit under control and making the foreign exchange market more flexible.

The IMF said Tunisia has complied with all the conditions of the program so far, including structural reforms, despite a difficult economic situation, with high unemployment and rising imbalances.

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Last Update: Sunday, 31 August 2014 KSA 20:48 - GMT 17:48
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IMF approves $217m loan disbursement to Tunisia
The latest disbursement brings the total funds released under the program to about $1.1 billion
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