27 July 2017

(TAP) - An International Monetary Fund (IMF) team started on Wednesday a Tunisia visit to assess economic development in Q1 of 2017 and discuss economic reform priorities with Tunisian authorities.

The members of the IMF mission and Tunisian authorities will focus on the progress made in macroeconomic balances ( growth, State budget, inflation) and economic reforms aimed to boost the Tunisian economy, the IMF said in a press release.

The Executive Board completed the first Review under the Extended Fund Facility (EFF) Arrangement with Tunisia. The completion of the review allows the authorities to draw the equivalent of SDR 227.2917 million (about US$314.4 million), bringing total disbursements under the arrangement to the equivalent of SDR 454.5837 million (about US$628.8 million).

The four-year EFF arrangement in the amount of SDR 2.045625 billion (about US2.83 billion, 375 percent of Tunisia’s quota) was approved by the Executive Board on May 20, 2016

The government’s reform programme supported by the EFF aims at reducing the fiscal deficit to stabilise public debt below 70 percent of GDP by 2020 while raising investment and social spending, and more exchange rate flexibility combined with maintaining inflation below 4 percent.

It also aims at ensuring pension sustainability and better protecting vulnerable households, as well as accelerating reforms to improve governance and foster private sector-led, job-creating growth.

© Tunis-Afrique Presse 2017