Tunisia delegation to head to US for IMF talks

A Tunisian delegation will travel to Washington on 18 April for a week of talks with the International Monetary Fund (IMF), Economy Minister Samid Saied said yesterday.

Saied added that the reform plan prepared by the Tunisian government is ready and will be discussed with the IMF team.

In early April, Saied said the government had no alternative but to reach an agreement with the IMF to obtain a loan.

Tunisia is seeking to secure a $4 billion loan from the IMF.

In March, an IMF team held discussions in Tunisia about a financing programme. It said reducing the Tunisian budget deficit has become a necessity, including controlling wages and rationalise subsidies.

However, the powerful UGTT labour union rejected the proposed reforms and threatened to hold a nationwide strike.

International rating agencies have in recent months downgraded Tunisia’s sovereign rating, reducing its chances of borrowing from global debt markets.

READ: Tunisia may not be able to repay IMF, says US bank