Tunisia has not made new proposals for terms of a long-delayed $1.9 billion International Monetary Fund loan, but should eliminate wasteful and socially unfair subsidies, IMF Middle East and Central Asia director Jihad Azour said on Thursday.
Azour told a news briefing at IMF-World Bank annual meetings in Morocco that such subsidies needed to be changed before the IMF board could approve a preliminary staff-level agreement for Tunisia.
The country has been waiting for more than a year for the program’s approval.
