ECONOMY

IMF mission in Tunisia next week to discuss fifth review of loan

Tunisia has so far received $1.4 billion of the total loan. (Shutterstock)

An International Monetary Fund mission will visit Tunisia on March 27 to discuss the fifth review of a loan program with the country, Minister of Economic Reform Tawfik Rajhi said on Tuesday.

The visit comes two months after the government raised the wages of about 670,000 public employees, a decision the IMF had discouraged in order to cut Tunisia’s budget deficit.

“The IMF mission will visit Tunisia from March 27 to April 9 for discussions on the fifth review of the loan program,” Rajhi told Reuters.

Tunisia struck a deal with the IMF in December 2016 for a loan program worth around $2.8 billion to overhaul its ailing economy. It included steps to cut chronic deficits and trim bloated public services, but progress has been slow.

Tunisia has so far received $1.4 billion of the total loan.

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Last Update: Tuesday, 19 March 2019 KSA 15:08 - GMT 12:08
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