The inflation rate eased slightly for the second consecutive month in Tunisia, reaching 10.1 percent in April, against 10.3 percent in March and 10.4 in February, announced the National Institute of Statistics (INS).
The decline in the inflation rate was seen in the decreased rate of food prices from 15.7 percent in March to 15.6 percent last month, and transport services prices dropped 10.2 percent from 11.4 percent in March.
Earlier this year, Central Bank Governor Marouane ِAl-Abbassi predicted the inflation rate to rise 11 percent in 2023, compared to 8.3 percent in 2022.
On Wednesday, the International Monetary Fund (IMF) warned of a slowdown in growth in 2023 in the Middle East, North Africa, and Central Asia, especially in oil-exporting countries.
Countries with civil strife and armed confrontation, such as Sudan, generally recorded low or negative GDP growth.
The Fund announced that growth in the Middle East would slow this year to 3.1 percent from 5.3 percent in 2022.
IMF Director of the Middle East and Central Asia Department Jihad Azour said that the decline in growth is an acceptable result in addressing inflation, the most challenging economic problem.
Meanwhile, the Fund expected low-income countries to continue to lag with growth at 1.3 percent this year as they struggle with high commodity prices, macroeconomic instability, and country-specific fragilities.
The Fund signaled it was close to completing a financial arrangement allowing Tunisia to secure a $1.9 billion rescue package.
Tunisian dollar-denominated bonds due 2025 were the biggest gainers, rising as much as 2.3 cents to hit a one-month high of just over 53 cents, according to Tradeweb data.
Euro-denominated bonds rose to 1.6 cents.
Tunisian bonds plunged last month after President Kais Saied expressed opposition to foreign "diktats" that could further impoverish the country.
During a briefing on the Fund's latest forecasts for the region, Azour said that reaching a staff-level agreement with Tunisia in September was necessary.
He added that funding to cover the Tunis program had been met and that the authorities had implemented some necessary steps and others still to come.
In a separate interview with "Bloomberg," Azour said the IMF signaled it was close to completing a financial arrangement allowing Tunisia to secure a $1.9 billion rescue package.
He announced that the Fund is almost done with financing the Tunisian deal, adding: "We needed to ensure enough financing for the program. [..] The good news is we are almost there."
