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Tunisia Gears Up for IMF Talks

Tunisian authorities are gearing up for talks with the International Monetary Fund. Reuters
Tunisian authorities are gearing up for talks with the International Monetary Fund. Reuters
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Tunisia Gears Up for IMF Talks

Tunisian authorities are gearing up for talks with the International Monetary Fund. Reuters
Tunisian authorities are gearing up for talks with the International Monetary Fund. Reuters

Tunisian authorities are gearing up for talks with the International Monetary Fund that is set to hold a series of virtual meetings with the government in Tunis from Monday.

“I can confirm that there would be an IMF mission February 14th to 22nd,” IMF spokesman Gerry Rice said at a press briefing when asked about the meeting.

“I can confirm the status of that mission would be virtual and where we are on Tunisia is the Tunisian authorities in the latter part of last year sent a letter to the IMF requesting a new fund supported program,” he said.

“So, over the past several months, IMF staff and the Tunisian authorities have held technical discussions, focusing on the immediate economic challenges, the country’s priorities and the reforms to be implemented in order to overcome the crisis in the country,” he added.

As part of the new negotiations, the IMF staff mission is expected to hold virtual meetings with the Ministers of Finance and of Economy and Planning, the Governor of the Central Bank of Tunisia and other ministers whose departments are concerned by the reforms to be implemented, the Tunisian news agency (TAP), reported.

This virtual visit was announced a few days after the regular meeting of the Central Bank's executive board, during which the members expressed concern about the delay in raising the external resources needed to finance the state budget, it said.

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Egypt, IMF Hold New Discussions to Alleviate Citizens’ Financial Burdens

Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
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Egypt, IMF Hold New Discussions to Alleviate Citizens’ Financial Burdens

Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)

Egypt and the International Monetary Fund (IMF) have agreed to review their joint credit facilitation program to ensure that no additional burdens are placed on citizens.

Egyptian Prime Minister Mostafa Madbouly reiterated the government’s commitment to “maintaining a flexible exchange rate in coordination with the central bank to safeguard the progress achieved in this area.” He expressed hope that the meetings with the IMF delegation in the coming days would “conclude the fourth review of the economic reform program.”

Following a meeting on Sunday between President Abdel Fattah al-Sisi and IMF Managing Director Kristalina Georgieva in Cairo, the Egyptian Presidency announced that Georgieva expressed her “full understanding of the significant challenges Egypt faces amid regional and global developments.”

In March, Egypt signed an $8 billion extended financial support package with the IMF, which requires reducing subsidies on fuel, electricity, and essential goods and allowing the Egyptian pound to float.

In late October, Sisi warned that his government might need to reassess its program with the IMF if international institutions do not account for the extraordinary regional challenges the country is facing. He cited a nearly 60% drop in Suez Canal revenue due to security tensions in the Red Sea as an example.

During the meeting with Georgieva, Sisi expressed Egypt’s commitment to continuing its cooperation with the IMF, building on progress to boost economic stability and reduce inflation. However, he stressed the need to acknowledge recent challenges Egypt has faced due to regional and international crises, which have impacted foreign currency reserves and budget revenues.

Sisi reiterated that the government’s primary focus is on alleviating pressures on citizens, particularly by controlling inflation and curbing rising prices, while also continuing efforts to attract investments and empower the private sector to drive employment and growth.

Georgieva, in turn, commended Egypt’s recent efforts and the reform program being “carefully implemented with a focus on the most vulnerable.” She highlighted the progress in macroeconomic indicators despite unprecedented current challenges, noting that this has been reflected in positive assessments from international credit rating agencies, improved credit ratings, and increased investments.

She expressed her “full understanding of the significant challenges Egypt faces amid regional and global developments” and emphasized the IMF’s commitment to working with the Egyptian government to identify optimal reform paths.