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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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Kazakhstan Anticipates Completion of ACWA Power’s Wind Energy Project

ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
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Kazakhstan Anticipates Completion of ACWA Power’s Wind Energy Project

ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)
ACWA Power announced in March that it would execute the project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. (Photo: ACWA Power)

Kazakh Ambassador to Saudi Arabia, Madiyar Menilbekov, announced that his country eagerly anticipates the completion of ACWA Power’s first wind energy project in the Zhetysu region. This project, led by the Saudi company, will have a total capacity of 1 gigawatt and an investment value of approximately $1.5 billion.
ACWA Power announced last March that it would execute this project, which will aid Kazakhstan in reaching its goal of sourcing 50% of its energy from clean resources by 2050. Construction is expected to commence in the summer of 2025.
Menilbekov told Asharq Al-Awsat that both countries “have established a solid political dialogue at a high level, along with cooperation in trade, economics, culture, and parliamentary exchange.” He expects this high-level dialogue to continue at the upcoming COP 16 summit in Riyadh.
He further emphasized that trade, economic, and investment cooperation is the cornerstone of the bilateral relationship, noting: “Both countries share a similar outlook on economic development, reflected in Kazakhstan’s Strategic Program 2050 and Saudi Arabia’s Vision 2030.”
The Kazakh ambassador highlighted that last September, the Islamic Development Bank approved financing for projects in Kazakhstan focused on water resource development, enhancing agricultural productivity, and ensuring food security, with total allocations amounting to $1.153 billion.
In tourism, he noted significant progress toward establishing direct flights between the two countries. Air Astana launched flights between Shymkent and Jeddah in October and announced a route from Almaty to Medina, bringing the total to six direct flights. Additionally, Kazakh companies in construction, oil services, and IT have recently opened offices across Saudi Arabia. The Farabi Innovation Center was inaugurated in Riyadh to attract talented entrepreneurs and innovative startups from Nur-Sultan and Central Asia to the Kingdom.
Menilbekov explained that since gaining independence, Kazakhstan’s GDP has grown 17-fold, with foreign trade reaching $139.8 billion last year. He added: “Since 1993, Kazakhstan has attracted a total of $441 billion in foreign direct investment, allowing our economy to remain one of the most dynamic in Central Asia and the post-Soviet region.”
According to Menilbekov, Kazakhstan is the world’s largest producer and exporter of natural uranium, responsible for more than 45% of global production and exports. He also noted that Kazakhstan produces 18 of the 34 raw materials identified by the European Union as “critical materials.”
Menilbekov further mentioned that Kazakhstan possesses 200 million hectares of agricultural land, with about 100 million hectares currently under regular cultivation.