Tunisia anticipates IMF deal in April

Tunisia

Tunisia TunisiaTunisia is anticipating to strike a critical deal with the International Monetary Fund (IMF) in April. This was shared by the Tunisian finance minister Sihem Boughdiri Nemsia on Wednesday, thus discarding speculations that the nation is heading towards imminent bankruptcy.

“The situation is difficult,” Sihem Boughdiri Nemsia said in an interview with broadcaster Shems FM. “Authorities are trying to stabilize the economy,” the finance minister said, adding that public sector salaries were however not at risk after delays were experienced in releasing payments of workers that raised alarming fears about condition of state’s finances.

The comments, aimed at diffusing concerns about Tunisia’s solvency during an ongoing political and economic crisis, come as the central bank is scheduled to meet for reviewing interest rates. Over the past few months, the regulator has blared constant alarms about the situation of economy at a time when Tunisia, the North African country is struggling to stay afloat amidst political uncertainty, inflation concerns, and concerns about the future influence on emerging markets of Federal Reserve policy tightening.

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Tunisia’s central bank has stayed firm on its benchmark rate of 6.25 per cent for over a year. But during its last meeting held in December, the Central Bank of Tunisia stressed the “need to accelerate the establishment of a clear-sighted economic reforms plan, capable of restoring both international donors’ and investors’ confidence.” It said that such step “was key to securing macroeconomic and financial balances, and coping with public finances which are being weighed down by strong pressure.”

Past one decade has been aggressively shadowed by economic torment in Tunisia. Successive Tunisian leaderships after Arab Spring sought ways to levy unemployment in country’s youth and a public wage bill that is among highest globally as GDP (gross domestic product) percentage. These concerns became even more prominent after President Kais Saied suspended the parliament last year. Prospect of an economic rebound have become rather glim since then.

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