Today's Edition
SHABAN BILAL (CAIRO)
Experts and political analysts anticipate that Tunisia will secure a loan from the International Monetary Fund (IMF) next year.
This expectation arises amid a consistent decrease in the inflation rate for three consecutive months and a resurgence in the tourism sector, a vital component of the nation’s economic growth. These developments have reignited discussions about the stalled IMF agreement, pending for over a year, aimed at securing new financing to enhance growth rates and social conditions.
It is noted that an IMF delegation was slated to visit Tunisia recently for consultations on the agreement, but the visit was postponed. Analysts emphasise that the IMF stipulates specific conditions, which President Kais Saied resists due to their potential social impact. Nonetheless, Tunisia has made progress in structural reforms.
A preliminary agreement was reached with the IMF a year ago for a loan programme worth $1.9 billion. However, Tunisia has not received any funds to date, citing reluctance to meet the IMF’s financing conditions.
Tunisian political analyst Monther Thabet remarked that Tunisia is nearing completion of the necessary structural reforms.
The latest rating from Fitch Ratings, an international credit rating agency, suggests a stable economic development outlook. Tunisia has notably repaid nearly 100% of its external debt services, which a commendable feat. Additionally, the tourism sector has significantly revived, with a 47% revenue increase until the end of August 2023.
Thabet disclosed to Aletihad that the final aspect of the proposed reforms concerns public institutions. He noted that the presidential policy will focus on addressing this issue in the coming period, aiming to eradicate arbitrary appointments, update the management model, and reduce state losses in these sectors.
He predicted that 2024 will likely witness an agreement between Tunisia and the IMF, following the ongoing economic and public institution reforms. He cited the continued decline in Tunisia’s inflation rate, as reported by the National Institute of Statistics.
However, Tunisian political analyst Nizar Al Jalidi offered a different view. He said that the Tunisian economy is progressing in an unclear and non-public manner. Key initiatives include anti-corruption campaigns, reliance on internal treasury and production, and enhancing domestic investment climates before international ones.
Al Jalidi, in a statement to Aletihad, noted that the IMF delegation remains in place due to President Kais Saied’s firm stance on the Fund’s conditions, particularly regarding national company disposals and terms acceptance.
Hazem Al Qasuri, president of the Free Tunisia Forum, agreed that Tunisia is actively engaging in dialogues with all international institutions, which is a central element of its reformative vision aimed at establishing social justice and contributing to a more just global community.
In a statement to Aletihad, Al Qasuri highlighted that the dialogue with the IMF is collaborative, seeking financing without compromising Tunisian sovereignty and favouring a balanced rather than unilateral approach.
