The International Monetary Fund (IMF) is disbursing a $ 245 million loan to Tunisia

by **RamblerNash** Sun Sep 30, 2018 12:59 pm

The International Monetary Fund (IMF) is disbursing a $ 245 million loan to Tunisia

Logo of the International Monetary Fund

09/29/2018

Economy News Baghdad

The International Monetary Fund (IMF) on Friday approved a $ 245 million loan to Tunisia, the fifth tranche under a lending program signed with the Arab country in North Africa, an official source said.

The loan program is linked to Tunisia's continued economic reforms aimed at keeping the budget deficit under control. The IMF approval will pave the way for Tunisia to sell $ 1 billion in bonds next month.

Reuters quoted an official source as saying that the sale of bonds will be early next month after approval by the IMF.

Tunisia expects economic growth to accelerate to 3.0 to 3.5 percent next year from 2.9 percent expected in 2018, driven by a recovery in the tourism industry and an expansion of the agricultural sector, officials told Reuters last month.

The government aims to reduce its budget deficit to 3.9 percent of GDP next year from 4.9 percent in the deficit it expects for 2018.

Tunisia's economy has suffered a crisis since the overthrow of dictatorial President Zine El Abidine Ben Ali in 2011, with sharp increases in unemployment and inflation.

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