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Tunisia says World bank to lend it $400 million for social reforms -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: One participant is seen standing near the World Bank logo at the International Monetary Fund Annual Meeting 2018. This meeting was held in Nusa Dua Bali (Indonesia), 12 October 2018. REUTERS/Johannes P. Christo

TUNIS, (Reuters) – The World Bank will lend Tunisia around $400 million to fund social reforms. On Tuesday, Tunisia’s government announced that it was beginning talks with International Monetary Fund regarding economic reforms.

North African nation is currently in financial crisis and seeks to receive a IMF rescue package. This will include spending cuts, economic reforms, and a rescue package.

Ferid Belhaj from the World Bank was able to confirm that it is available to finance Tunisia’s economic reforms, after meeting Prime Minister Najla Bouden.

Foreign donors and the IMF have stated that the outlined reforms in economics including energy subsidies would require broad support from all parties, not just the powerful UGTT union, to secure a deal.

Sihem Boughdiri, Finance Minister, stated earlier in the month that Tunisia was hoping to sign an agreement with IMF in April.

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