Sunday, Jun 17, 2012
ABU DHABI (Zawya Dow Jones)--The Arab Monetary Fund will sign this week loan deals with Tunisia and Yemen to help bolster their finances, according to the fund's top official.
The AMF is set to sign two loan deals--agreed upon in the first quarter--with Yemen on Tuesday totaling $209 million, Jassim Al Manai, the AMF chief, told Zawya Dow Jones. "One loan is a three-year extended facility loan to bridge the deficit in the balance of payments. The other is a five-year loan to support fiscal reforms in the country," he said.
The AMF will also be signing three loan agreements with Tunisia this Thursday worth $180 million, Manai added. "One loan is to help the country face any increase in its exports' bill. Another is to support fiscal and banking sector reforms. And the third one is an automatic loan to help with the budget deficit."
Both countries face economic challenges after popular uprisings last year that toppled the rulers there.
-By Leila Hatoum, Dow Jones Newswires; +971-4-446-1686; leila.hatoum@dowjones.com; Twitter: @ZDJnews
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
17-06-12 1238GMT
