عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Tunisia Hopes to Reach Deal with IMF By End of October

A Tunisian woman is shopping in a store, while the sign in French prohibits buying more than one bottle of milk per buyer (Reuters)
A Tunisian woman is shopping in a store, while the sign in French prohibits buying more than one bottle of milk per buyer (Reuters)
TT
TT

Tunisia Hopes to Reach Deal with IMF By End of October

A Tunisian woman is shopping in a store, while the sign in French prohibits buying more than one bottle of milk per buyer (Reuters)
A Tunisian woman is shopping in a store, while the sign in French prohibits buying more than one bottle of milk per buyer (Reuters)

Tunisia hopes to reach an agreement with the International Monetary Fund by the end of October, the government's spokesperson said on Friday, after a wage deal agreed with unions was seen as a key step towards getting IMF support.

"The Tunisian negotiating team was in contact yesterday with (the) IMF regarding the last terms of the agreement with the Fund," Nasreddine Nsibi, the government spokesperson, said.

"We seek to reach a deal with the IMF before the end of October, which would make Tunisia able to fulfill all its commitments, including providing food and energy products, paying wages and debt service," he added.

The government and the Tunisian General Labor Union (UGTT) on Thursday signed a deal to boost public sector wages by 5 percent, a step that may ease social tensions.

Fitch Ratings said on Friday that Tunisia’s wage agreement raises the likelihood of an IMF deal.

The IMF and major foreign donors want Tunisia to push ahead with cuts in subsidies and the restructuring of state-owned companies as well as steps to bring the public sector wage bill under control.

The IMF has signaled it will not move forward with a bailout sought by Tunis unless the government brings on board the UGTT, which says it has more than a million members and has previously shut down the economy in strikes.

The Tunisian government and the country's main labor union signed late Thursday a deal on wage increases. The agreement includes a 5-percent annual pay rise for civil servants until 2025.

On the sidelines of the signing, the Secretary General of the UGTT Noureddine Taboubi said that this agreement is the outcome of difficult negotiations.

According to Prime Minister Najla Bouden, the government is cooperating with the social partner to overcome the difficulties facing the country, such as the repercussions of the COVID-19 pandemic and the Russia-Ukraine conflict.

The prime minister added that the agreement is the fruit of the joint course of action between the government and the UGTT, the official Tunis Afrique Presse (TAP) has reported.

Most Viewed

 
 
Business

Saudi Arabia Implements Int’l Customs System to Facilitate Temporary Import of Goods

Jeddah Islamic Port (Asharq Al-Awsat)
Jeddah Islamic Port (Asharq Al-Awsat)
TT
TT

Saudi Arabia Implements Int’l Customs System to Facilitate Temporary Import of Goods

Jeddah Islamic Port (Asharq Al-Awsat)
Jeddah Islamic Port (Asharq Al-Awsat)

Saudi Arabia has started implementing an international customs system that facilitates the temporary import of goods for up to one year without the need to pay any fees, taxes, or undergo customs procedures.

In June, the Zakat, Tax, and Customs Authority started accepting the ATA Carnet temporary admission document at all its land, sea, and air customs points. This step is part of the Kingdom's commitment to the Istanbul Convention on Temporary Admission, supporting the business sector and enhancing Saudi Arabia's status as a global destination for events, exhibitions, and activities.

On Thursday, the Federation of Saudi Chambers announced the issuance of the first ATA Carnet since the official adoption of this system, making Saudi Arabia the 80th country worldwide to implement this international customs system. The document was delivered to Swiss company Richemont.

Logistics expert Zaid Al-Jarba told Asharq Al-Awsat that adopting the ATA Carnet system is a pivotal step in enhancing Saudi Arabia’s logistics environment, adding that the move aligns with the Kingdom’s national transportation and logistics strategy, facilitating international trade by streamlining customs procedures.

He stressed that this system strengthens the country’s infrastructure readiness, supports the growth of the logistics services sector, increases Saudi Arabia’s global competitiveness, and boosts its ability to attract and host international events and exhibitions.

Businesses and interested parties can apply for the ATA Carnet through the Federation’s website and collect it from their headquarters in Riyadh.

The Zakat, Tax, and Customs Authority clarified when announcing the start of the ATA Carnet that eligible goods include items intended for display or use in exhibitions, markets, meetings, or similar events, professional equipment, containers, pallets, packing materials, samples, and other goods related to commercial operations. Additionally, goods imported for educational, scientific, or cultural purposes can also be temporarily admitted under the system.

The Federation of Saudi Chambers has been designated as the authorized guarantor in the Kingdom for the ATA Carnet, approved by the Zakat, Tax, and Customs Authority. The Federation is also the issuing body, with the right to delegate others. Beneficiaries can import goods temporarily under the ATA Carnet without needing to provide financial guarantees.