TUNISIA RECEIVES US$245m AS PORTION OF IMF LOAN

Tunisia gets US$245 million loan installment from IMF

According to reports, the International Monetary Fund (IMF) have approved a loan installmental payment of US$245m to Tunisia. This approved sum is the fifth payment under the loan programme between IMF and the North African country.

The IMF loan programme will aid Tunisia control its deficit through economic reforms. It will also unlock the route for the country to sell US$1 billion worth of bonds this month (October 2018).

With a fattening agricultural sector and also a reclaimed tourism sector, the North African country expects economic growth to leap to between 3 and 3.5 percent by next year (2019). This will be a tremendous improvement when compared to 2018 expected growth of 2.9 percent.

Also, the Tunisian government plans to scale down its budget deficit to 3.9 percent of GDP in 2019. The country’s 2018’s current forecast is at 4.9 percent.

Since the ousting of despot Zine al-Abidine Ben Ali in 2011, the country’s economy have been in disarray with unemployment and inflation on the increase.

See similar article: MALAWI GETS US$112.3m IMF LOAN

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