Sunday 30, September 2018 by Kudakwashe

IMF disburses $245 million loan tranche to Tunisia


The International Monetary Fund (IMF) loan programme is tied to pursuing economic reforms aimed at keeping Tunisia’s deficit under control.

The IMF has approved the payment of a $245 million loan tranche to Tunisia, the fifth under its loan programme.

The Tunisian government seeks to reduce its budget deficit to 3.9 per cent of gross domestic product (GDP) next year from the 4.9 per cent it is forecasting for 2018.

The approval is said to open the way for Tunisia to sell $ 1 billion bonds next month.

Tunisia expects economic growth to accelerate to between three and 3.5 per cent next year from an expected 2.9 per cent in 2018, driven by a boom in the tourism industry and an expanding agricultural sector, reported Reuters.

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