IMF disburses $247 million loan tranche to Tunisia

Reuters reported that the International Monetary Fund (IMF) on Wednesday approved the payment of a $247 million loan tranche to Tunisia, the sixth under its loan program after the statement of Minister of Reforms Taoufik Rajhi.

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.

This will bring total disbursements to about $1.6 billion since 2016.

The IMF approval will open the way for Tunisia to sell bonds worth up to $800 million this year.

Tunisia needs around $2.5 billion in external financing in 2019, officials said.

TunisianMonitorOnline

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