The International Monetary Fund (IMF) approved Friday, September 28, the payment of the fifth tranche of the loan to Tunisia, loan approved in May 2016 as part of its economic program.
This is a new $ 245 million envelope, out of a total of about $ 2.9 billion. Tunisia receives, with this tranche, $ 1365 million of the total loan. The remainder is to be paid in installments according to the progress of the implementation of the defined economic reform program.
This IMF approval will also pave the way for the sale of $ 1 billion bonds next month. It will also enable the country to achieve economic growth of up to 3.5% in 2019 against 2.9% last year.
A relief for the Tunisian authorities since the two parties seemed to disagree, a few weeks ago, on the date of payment of said tranche. The Bretton Woods institution had reservations about the critical economic situation in which the country is located.
According to the statement, the IMF urged Tunisia to reduce its budget deficit and increase its fuel and electricity bills to offset the rise in oil prices, which compromises the already overburdened public finances.