TUNIS, Tunisia and the International Monetary Fund (IMF) reached a staff-level agreement to support the country’s economic policies with a 48-month arrangement under the Extended Fund Facility (EFF) of about 1.9 billion U.S. dollars, reported Tunisian media on Saturday.
“As is always the case, the final agreement on the arrangement is subject to the approval of the IMF’s Executive Board, which is scheduled to discuss Tunisia’s program request in December,” said an IMF statement.
The new EFF arrangement will seek to “restore Tunisia’s macroeconomic stability, strengthen social safety nets and tax equity, and step up reforms that support an enabling environment for inclusive growth and sustainable job creation,” noted the statement.
It added that the loan will support the authorities’ economic reform program to restore Tunisia’s external and fiscal stability, enhance social protection, and promote higher, greener, and inclusive growth and private sector-led job creation.
Tunisia has been seeking a multi-billion-U.S.-dollar loan from the IMF to avoid bankruptcy.
Source: Nam News Network