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Tunisia: IMF loan to be signed next May

The Stand-By Arrangement (SBA) between Tunisia and the IMF will likely be signed during the month of May, IMF representative Amine Mati said at a meeting held Tuesday, April 16 in Tunis, adding that negotiations are at an advanced stage.


Elyes Fakhfakh, Minister of Finance, spoke on his part of the possibility of using the loan before the end of 2013 to inject it into the state budget for 2013, especially as the issuance of Islamic Sukuk may be delayed. The first Islamic Sukuk will be issued at the end of this year, according to Elyes Fakhfakh. Chedly Ayari, the Governor of the Central Bank explained that Tunisia is now facing several external and internal pressures, forcing it to rely on external funding.

Among the problems faced by Tunisia, he mentioned the crisis in the Euro zone and the rising prices of imported products. Add to this political factors and economic and social data inherited from before the Revolution. 


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