05 February 2013 11:08 am | | 2

Share     Share       Share     Share  

IMF headquarters in Washington, DC

Although Tunisia has the resources to cover its financial needs, it is seeking additional funds to protect its budget from external shocks that could threaten the government’s economic recovery program.

An International Monetary Fund (IMF) mission visited Tunisia from January 15 to February 1 to discuss a Precautionary Stand-By Arrangement (SBA) of up to $1.78 billion in financial aid, which would safeguard the country’s macroeconomic stability in the event of a crisis.

The talks over the SBA “are at an advanced stage,” said Amine Mati, head of the IMF mission, in a press statement. The mission plans to continue working with Tunisian officials to finalize the SBA in March.

In 2012, Tunisia’s government recorded solid revenue performance and secured budget support loans from the European Union, the World Bank, and the African Development Bank. These sources as well as new ones identified for 2013 meet the budgetary requirements of the country’s economic program to achieve regional development and reduce unemployment, Mati said.

But he said the SBA is taking precautions due to “exogenous shocks that could come from the global environment.”

The Eurozone crisis, for example, has hurt Tunisian exports to its main trading partners — Italy, Germany, and France — with the country’s trade deficit increasing by 35%.

During the visit, the mission met with all stakeholders in Tunisia’s economic recovery, including members of the National Constituent Assembly, political parties, representatives from the private and financial sectors, trade unions, civil society, and Central Bank officials.

Share     Share       Share     Share  

  From the same category


Switzerland to Return $40 Million in Ben Ali Assets to Tunisia

Economy to ‘Remain Tough,’ 2015 to Be Worse, Says Government

Tunisia Pitches Development Projects to Arab Funders

Private Airline to Start Flights to New York


Ben Ali Family’s Corrupt Grasp on Tunisian Economy Detailed in New Report

New 5 Dinar Bill Replaces Last Ben Ali Banknote

African Development Bank Maintains $2.1 Billion in Support for Tunisia

Despite Possible Price Increase, Beer Drinkers Say They Will Keep Drinking


Elimination of Cement Subsidies Could Raise Construction Costs

Union and Government Discuss Potential Minimum Wage Increase

Protesting Police Officers Block Traffic at Major Tunis Roundabout

Bahrain Bank Funding New Three Billion Dollar Investment Center in Tunisia

Comments (2)

Trackback URL | Comments RSS Feed

  1. Patrick Batchelder says:

    Although likely well know, Tunisia needs far more trading partners. Even what few goods are no produced here could easily be exported and bought by many other western countries. Of course, a strong and diversified service and manufacturing sector is needed the one resource are qualified people and Tunisia has that. There needs to be a cultural shift where young, educated men and women are far more motivated to create jobs.

  2. tunisia says:

    Fine way of explaining, and pleasant piece of writing to take data on the topic of my presentation
    topic, which i am going to present in institution of higher education.

Leave Feedback

  Follow us

Connect on YouTube Connect on Google+ Connect to itunes Subscribe via RSS Feed

  Latest Videos

Play Video

Motocross Racers in the Forests of Bizerte, Tunisia

Bizerte, the northernmost city in Africa, hosted the fourth round of the...

Play Video

Endangered Whale Brought Ashore in Tunis Suburb

Onlookers in the popular tourist spot of Sidi Bou Said, near Tunis,...

Play Video

'Kima Enti:' Mixing Tunisian Traditions With Modern Design

"Kima Enti" is a hand-made art and design project launched by independent...

Play Video

One-Year Anniversary of Chokri Belaid's Death

On February 6, 2014, family and supporters of slain Tunisian politician Chokri...

Play Video

Klay BBJ explains his arrest

Tunisia Live's Nissaf Slama interviews rapper Klay BBJ on his music, arrest,...

Tabbed Structure - Regular
UGTT Union Nominated for Nobel Peace Prize...
Unemployed Tunisians Risk Their Lives to Build Future...
Switzerland to Return $40 Million in Ben Ali...
Tunisia Returns Stolen Ancient Artifact to Algeria...
Pollution Ravages Old Port of Tunis...
NCA Approves Judicial Body, Looks Ahead to Electoral...
Motocross Racers in the Forests of Bizerte...
Ben Ali Officials To Be Released in Revolution...
Members ‘Freeze’ NCA Participation Over Reduced Sentences for...
Low Turnout and Mixed Feelings for Algerians Voting in Tunisia...
Update: Libyan Kidnappers Demand Militants’ Release...
New Areas Around Chaambi Declared Military Zones...
Pollution Ravages Old Port of Tunis...
NCA Approves Judicial Body, Looks Ahead to Electoral Law...
Motocross Racers in the Forests of Bizerte...
Unemployed Tunisians Risk Their Lives to Build Future in Europe...
Members ‘Freeze’ NCA Participation Over Reduced Sentences for Ben Ali Officials...
Ben Ali Officials To Be Released in Revolution Killings Case...