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Tunisia asks for IMF finance programme

Tunisia asks for IMF finance programme

Tunisia has asked the International Monetary Fund (IMF) for a new financing programme and is preparing to start talks with the fund.

According to Reuters, Tunisian officials will travel to Washington early next month to hold talks with IMF officials.

The Tunisian government agreed on an economic reform package at the end of last month that tackles subsidies, taxes and state firms, and which was seen as opening the way for an agreement with the IMF for financial support.

Tunisia reported a fiscal deficit of 11.5 percent of economic output in 2020, the biggest gap in nearly four decades as the coronavirus pandemic took its toll.

The north African country last year secured nearly Ksh.81 billion ($750 million), through an emergency assistance loan from the multilateral lender to help counter the economic impact of the coronavirus outbreak.

The Tunisian economy shrank by 8.8 percent last year as the COVID-19 pandemic hit key sectors such as tourism, but has estimated a growth of 3.8 percent this year.

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