The Central Bank of Tunisia (BCT) announced on Tuesday that it has concluded a first extended loan agreement with the Arab Monetary Fund (AMF) on July 7, amounting to 76.700 million Arab accounting dinars, equivalent to approximately $312 million.
The loan “falls within the framework of supporting efforts to strengthen Tunisia’s economic and financial stability,” the BCT said in a statement.
The agreement was signed on behalf of the Tunisian government by Mr. Fethi Zouhaier Nouri, Governor of the Central Bank of Tunisia, and on behalf of the Arab Monetary Fund by Dr. Fahad M. Alturki, Director General and Chairman of the Fund’s Board of Directors.
According to the BCT, the financing supports the economic and financial reform program being implemented by the Tunisian government. “It will contribute to covering balance of payments needs, thereby strengthening the resilience of the national economy and supporting the sustainability of the country’s financial and external balances,” the central bank specified.
The loan will be disbursed in three instalments, with the first made available upon the agreement’s entry into force. Each instalment carries a seven-year maturity, including a three-and-a-half-year grace period, with repayment to be made in eight equal semi-annual instalments.
