Source: International Monetary Fund (IMF) |

IMF Executive Board Approves US$2.88 billion Extended Fund Facility with Tunisia

WASHINGTON D.C., United States of America, May 20, 2016/APO (African Press Organization)/ --

The Executive Board of the International Monetary Fund (IMF) today approved a 48-month Extended Fund Facility (EFF) with Tunisia for an amount equivalent to SDR 2.04 billion (about US$2.88 billion, or 375 percent of Tunisia’s quota) to support the country’s economic and financial reform program. The authorities five-year economic vision aims at promoting stronger and more inclusive growth by consolidating macroeconomic stability, reforming public institutions—including the civil service-facilitating financial intermediation, and improving the business climate. Following the Board’s decision, an amount equivalent to SDR 227.3 million (about US$319.5 million) is available for immediate disbursement; the remaining amount will be phased in over the duration of the program, subject to eight program reviews.

 

Distributed by APO Group on behalf of International Monetary Fund (IMF).