Negotiations between Tunisia and the International Monetary Fund (IMF) should be completed soon, said President of the African Development Bank (AfDB) Group, Akinwumi Adesina, in a statement to TAP, quoting Minister of Economy and Planning, Samir Saied, who confirmed this during their meeting on the sidelines of the AfDB’s annual meetings.
Answering a question from TAP at a press conference held on Friday at the close of the AfDB’s annual meetings (from May 22 to 26, 2023) in Sharm el-Sheikh, Egypt, Adesina expressed his hope that these negotiations would succeed in completing the financing process and examining other financing mechanisms for Tunisia.
He also reiterated the AfDB’s willingness to continue supporting Tunisia politically and economically, particularly in terms of developing projects in the agriculture, infrastructure and solar energy sectors.
According to the AfDB, Tunisia needs to conclude a “preliminary” agreement with the International Monetary Fund (IMF) in order to stabilise the macroeconomic framework, thereby restoring the sustainability of its public finances and sending “a positive signal to private investors and donors”.
The African Economic Outlook 2023 report, published by the African Development Bank on the sidelines of its annual meetings, stresses that the entry into force of the $1.9 billion loan agreement with the IMF “would make it possible to unlock concessional financing from other development partners”.
The AfDB has forecast average economic growth in Tunisia of 2.3% during the period 2023/2024 and a narrowing of Tunisia’s budget and current account deficits, due to the national reform programme launched in 2022, which aims to strengthen private investment, consolidate public finances and improve the performance of public enterprises.
Source: Agence Tunis Afrique Presse