Tunisia Reaches Agreement With IMF Over Crucial Funding Program
- Authorities expected to raise tax revenue, curb wage bill
- IMF executive board will discuss the request in December
Customers shop at a street market in the Ariana district of Tunis.
Photographer: Chedly Ben Ibrahim/BloombergThis article is for subscribers only.
Tunisia reached a staff-level agreement with the International Monetary Fund that may unlock $1.9 billion in loans and ease concerns of a debt default in a country gripped by economic and political crises.
The extended fund facility has a 48-month time frame and aims to support economic policies and reforms to be carried out by authorities, the Washington-based lender said in a statement Saturday. Final agreement on the arrangement still requires approval of the IMF’s executive board, which is scheduled to discuss the Tunisian request in December, it added.