Asharq Al-awsat English Middle-east and International News and Opinion from Asharq Al-awsat Newspaper

Tunisia to Hold Talks With IMF, Request Funds

Tunisia to Hold Talks With IMF, Request Funds

Monday, 19 October, 2020 - 11:15
IMF Logo via Reuters.

Tunisia will have discussions with the International Monetary Fund (IMF) in coming weeks and may request more financing facilities, a senior official at the lender said.

Tunisia agreed with the fund in April to borrow $743 million to help counter economic mayhem from the coronavirus pandemic after a previous long-term IMF loan program had expired.

“They may request - they did not do it yet - they may request other fund facilities,” Jihad Azour, director of the Middle East and Central Asia department at the IMF, told Reuters.

The country expects its economy to shrink by 7% this year and its fiscal deficit to balloon to 14% of gross domestic product (GDP).

It has also received financial support from the European Union and the World Bank.

Editor Picks