HomeNewsIMF to send teams to Tunisia and Lebanon later this month

IMF to send teams to Tunisia and Lebanon later this month

The International Monetary Fund will send teams to Lebanon and Tunisia this month to continue discussions on new financial aid packages for the countries, a fund spokesman said Thursday.

The governments of both countries have been working for months to secure support for their ailing economies, but have yet to reach an agreement with the Washington-based crisis lender.

Talks with Lebanon on assistance to deal with severe financial difficulties are “progressing well,” IMF spokesman Gerry Rice told reporters.

But “extensive work is needed,” he added. “Lebanon’s challenges are deep and complex; they will require time and commitment.”

In 2020, Lebanon defaulted on its sovereign debt for the first time in its history.

Rice said IMF staff will meet again this month with the Tunisian authorities and will seek to build on the “good progress made in understanding their reform policies.”

Tunisia requested an IMF loan program in mid-November for an economy plagued by low growth, high public debt, inflation and unemployment.

The IMF bailout request would be the fourth since the Tunisian revolution.

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