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, bringing total disbursements under the arrangement to $628.8 million.
The IMF agreed last year to extend a $2.8 billion loan to Tunisia on the condition that it implements key economic reforms.
The IMF’s review assessed the country’s efforts to implement the recommended measures, including reducing the fiscal deficit, tightening monetary policy and increasing tax fairness.
Tunisia’s economy has lagged over the past two years as the country has struggled to recover from a drop in tourism revenues caused by a series of terrorist attacks and social unrest.
Comments are closed.