• Ar
  • Es
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Feature
  • Videos
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Feature
Videos
Infographs
In Pictures
  1. Home
  2. News
  3. Africa
  4. IMF reaches EFF agreement of $1.9bln with Tunisia
Africa

IMF reaches EFF agreement of $1.9bln with Tunisia

  • By Al Mayadeen English
  • Source: Al Mayadeen English + Agencies
  • 16 Oct 2022 00:09

The agreement now pends the approval of the IMF's Executive Board set to meet in December.

  • IMF agreement with Tunisia for $1.9 billion loan, pending approval
    IMF agreement with Tunisia for $1.9 billion loan, pending approval

In a statement released today Saturday, the IMF announced reaching an agreement with Tunisia to support its economy with $1.9 billion.

"IMF staff and the Tunisian authorities have reached a staff-level agreement to support Tunisia's economic policies with a 48-month arrangement under the Extended Fund Facility (EFF) of about US$1.9 billion," the IMF stated.

The Tunisian authorities met in Washington with an international IMF team, led by Chris Geiregat and Brett Rayner from October 10 to October 15 to "continue discussions on IMF support for Tunisia and the authorities’ comprehensive economic reform program."

Read more: Saied receives Polisario chief, Morocco summons ambassador to Tunisia

In a statement following the discussions, Geiregat and Rayner announced that "the Tunisian authorities and the IMF team have reached a staff-level agreement on the economic policies and reforms to be supported by a new 48-month Extended Fund Facility (EFF) with requested access of SDR 1.472 billion (equivalent to about US$1.9 billion)," adding that the "final agreement on the arrangement is subject to approval of the IMF's Executive Board, which is scheduled to discuss Tunisia’s program request in December."

It's noteworthy that Tunisia has been witnessing a major political crisis since July 25, 2021, when Tunisian President Kais Saied dismissed the Prime Minister and suspended the parliament, which was then chaired by Ennahda's leader Rached Ghannouchi, before dissolving it.

Thousands of supporters from leading opposition parties demonstrated in Tunisia's capital, Tunis, on Saturday to protest President Kais Saied's policies and demand his resignation, while blaming him for the deteriorating economic and social conditions in the country.

Read more: Tunisian opposition to boycott December parliamentary elections

The two principal opposition parties, namely the National Salvation Front and the Ennahda Movement, roamed the principal streets of the capital city, Tunisia, in protest of the President's economic policies.

#Tunisia : Thousands protesting in the capital this morning against Kais Saied's one-man rule.#Tunisie #Tunisia#Tunesien #تونس pic.twitter.com/bRCSv1lKVt

— TUN Anti-Coup (@BillJoh04134087) October 15, 2022

Saied amended the country's constitution and electoral law, and parliamentary elections are scheduled for the end of the year to elect a new parliament with limited powers.

In most of his speeches, the Tunisian President often stresses that his policy is "a correction of the revolutionary path."

  • Tunisian President Kais Saied
  • Tunisia
  • US
  • IMF loan

Trending Now

All
The International Monetary Fund logo is seen during the IMF/World Bank July 2022 meetings in the US (Reuters)

IMF uses loophole to grant Ukraine $1.3 bln alongside other funds

Most Read

US dollar may lose status as global reserve currency: Yellen

US dollar may lose status as global reserve currency: Yellen

  • US & Canada
  • 22 Mar
Ukrainian President Volodymyr Zelensky speaks at a press conference on 25, February, 2022. (AFP)

Kiev unable to launch counteroffensive: Zelensky

  • Europe
  • 25 Mar
Europe's move has only increased Putin’s esteem outside the West -- but estimation of Europe’s political nous and understanding of Russia, however, is sharply diminished.

Lawfare Comes into Fashion: The New Geo-political ‘Rack’

  • Analysis
  • 25 Mar
Crewmen enter Bradley fighting vehicles at a US military base at an undisclosed location in Northeastern Syria, on November 11, 2019 (AP)

US occupation bases under fire in Syria for second day in a row

  • MENA
  • 24 Mar

Read this

All
Khader Adnan
Palestine

Khader Adnan's health condition deteriorating rapidly: Prisoners Club

  • 26 Mar
French police crackdown leaves protester's life hanging by a thread
Europe

Sainte-Soline police violence leaves protester life hanging by thread

  • 26 Mar
Demonstrators gather outside Downing Street during a Black Lives Matter march in London, on June 6, 2020.
Europe

Black children more likely to be strip-searched in England, Wales

  • Today
Elon Musk's photo is seen through a Twitter logo in this illustration taken October 28, 2022. (Reuters)
Technology

Twitter worth less than half of what I paid for it: Elon Musk memo

  • 26 Mar
Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS