IMF says agrees to disburse Tunisia’s delayed loan instalment

The International Monetary Fund (IMF) has agreed to pay out a $320 million second tranche of Tunisia’s loan programme after talks to agree on the government’s reform priorities, the IMF Tunisia mission chief said on Monday.

The portion of the $2.8 billion loan programme was delayed from December because of a lack of progress in reforms to cut public spending and overhaul state finances demanded by Tunisia’s multilateral lenders.

The disbursement of the second instalment of the International Monetary Fund (IMF) loan will enable the country to mobilise additional resources of about $ 1.150 million (about 2,651i.6 million dinars), said Finance Minister Lamia Zribi.

They are the budget funds which will be mobilised from the World Bank by 500 million dollars (about 1154.6 million dinars), the European Union (500 million dollars also) and the African Bank ($ 346.38 million), in addition to the instalment of the IMF loan that will be disbursed after its Board meeting in May 2017, which is estimated at $ 320 million (about 738. 94 million dinars), the minister told local media.

The disbursement of the new instalment requires the completion of certain reforms agreed between the IMF and the Tunisian government under a one-year programme (2017-2018). These reforms will be adopted before the Meeting of the board of directors of the fund like the law on excessive interest rates and the organic law of the budget, she added.

She voiced optimism about GDP growth in view of the positive indicators recorded in the tourism and phosphate sectors whose current level of production is close to that of 2010.



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