Day: June 13, 2017

G20, African countries explore opportunities to increase investments in Africa at Berlin conference

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A common refrain on the opening day of the two-day conference – “G20 Africa Partnership – Investing in a Common Future” – hosted by Germany under its G20 Presidency was that Africa’s time has come and opportunities for investment on the continent abound. In a session on the G20 Compact with Africa, which aims to increase investment opportunities, push for a more sustainable infrastructure as well as create jobs and employment in African countries, the Finance Ministers from Côte d’Ivoire, Morocco, Rwanda, Senegal and Tunisia shared their views on opportunities for…

Tunisia: police deployed against urban neglect

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 A reported 300 Tunisian local police officers as of Tuesday will be patrolling cities to ensure that laws aimed at safeguarding the environment are respected and will fine all those who will not abide by them. The new police corps will be progressively placed under the authority of local governments in 34 districts of Grand-Tunis, in 20 cities within 20 governorates and in 20 other municipalities that are tourist attractions or have a large population. The law approved on April 30 last year provides for fines between 300 and 1,000…

IMF Approves $314Mln Loan Disbursement to Tunisia

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IMF authorized the disbursement of another $314.4 million to Tunisia under its existing loan agreement with the international lender. The Executive Board of the International Monetary Fund (IMF) authorized the disbursement of another $314.4 million to Tunisia under its existing loan agreement with the international lender, according to an IMF statement. “On June 12, 2017, the Executive Board of the International Monetary Fund (IMF) completed the first review of Tunisia’s economic program supported by an arrangement under the Extended Fund Facility,” the IMF said in a statement on Monday. The IMF explained the completion of the review allows the authorities to draw $314.4 million,…

IMF Executive Board Completes First Review under the Extended Fund Facility (EFF) Arrangement with Tunisia

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The government’s reform program supported by the EFF aims at reducing the fiscal deficit to stabilize public debt below 70 percent of GDP by 2020 while raising investment and social spending. Monetary tightening and greater exchange rate flexibility will help contain inflation, improve competitiveness, and preserve international reserves. To achieve a growth-friendly and socially-conscious fiscal consolidation, it will be critical to implement the 2018 tax package and the new Large Taxpayers Unit, which will both increase tax fairness. On June 12, 2017, the Executive Board of the International Monetary Fund…

Tunisia trade deficit widens

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Tunisia’s trade deficit widened to TND 6.475 billion (USD 2.67 billion) in the first five months of 2017, up from TND 5.135 billion (USD 2.12 billion) from January to May 2016, despite the hike in exports, particularly of crude oil. The information was made public this Monday (12) by news agency Tunis Afrique Presse (TAP). The deficit widened by 26%. Import coverage by exports dropped from 69.5% in May 2016 to 67.3% in May 2017. According to Tunisia’s National Institute of Statistics (INS, in the French acronym), the deficit widened…

Germany’s Merkel promotes African development ahead of G20

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German Chancellor Angela Merkel sought to drum up global support for African development as she hosted African leaders Monday ahead of next month’s Group of 20 summit. Merkel gathered the leaders of current African Union chair Guinea, Egypt, Ivory Coast, Ghana, Mali, Tunisia and others in Berlin to discuss a so-called “compact with Africa” to help finance countries’ development needs. She acknowledged that “development is only possible if security is assured.” Merkel contrasted Germans’ average age of 43 with an average age in Niger and Mali of 15 as she…