An International Monetary Fund delegation will arrive in Tunisia on Friday for talks with the government and other groups, a top trade union official said, as fears rise over the North African country’s risk of default.
After meeting representatives of the government and central bank, the IMF team is also scheduled to have discussions with the powerful Tunisian General Labor Union on April 1, its assistant secretary-general Sami Tahri said by phone.
An IMF representative in Tunisia did not immediately answer calls seeking comment.
The birthplace of the Arab Spring is battling to rescue a long-troubled economy that has been further battered by the pandemic and is seeing fresh political uncertainty after President Kais Saied assumed more powers, firing the prime minister and suspending parliament in July.
Fitch Ratings last week downgraded Tunisia’s sovereign debt rating to CCC from B-, reflecting heightened fiscal and external liquidity risks due to delays in agreeing a new IMF deal.
Union opposition has been among the factors hindering earlier attempts by successive Tunisian governments to cut government spending and tackle other key issues. Tahri declined to comment further on the proposed talks or state of negotiations.
The government said last month it hopes to reach an agreement in April.
Morgan Stanley said this week that Tunisia looks unlikely to clinch an IMF loan deal, with political opposition to fiscal reforms raising the risk that the government will eventually default on its debt.
First cruise ship in three years with over 700 passengers docks in TunisiaA cruise ship docked in a Tunisian port on Wednesday for the first time since 2019, carrying over 700 passengers and rare good news for tourism ... Travel and Tourism
IMF to send teams to Lebanon, Tunisia this monthThe IMF will send staff to Lebanon and Tunisia this month to further discussions on new financial aid programs for the countries, a fund spokesman ... Economy
UAE’s Bukhatir group revives $5 billion real estate project in TunisiaUAE-based Bukhatir Group said on Thursday it was reviving a $5 billion real estate project in Tunis and would start work immediately on an initial ... Economy
Tunisia’s President Saied declares ‘war’ on food profiteering amid shortagesTunisian President Kais Saied declared war Wednesday on food speculators amid a shortage of products such as wheat and semolina – key staples in a ... North Africa
Tunisia sees UAE investments in real estate, solar projectsUAE-based Bukhatir Group will revive a $5 billion real estate project in Tunis, Tunisian sources told Reuters on Friday, the first big project in the ... Economy
IMF reports ‘good progress’ in Tunisia talksThe International Monetary Fund said on Wednesday it had made “good progress” in talks with Tunisia ultimately aimed at a possible rescue package to ... North Africa
Tunisia shortages bite as fiscal crisis loomsTunisians are suffering delays to salary payments and shortages of grains, medicines and sugar, a foretaste, some economists say, of a rapidly looming ... North Africa
Tunisian president cements power over judiciaryTunisia’s president cemented his grip over the judiciary on Sunday with a decree that lets him dismiss judges or block their promotion, helping ... North Africa