Tunisian Minister of Economy and Planning Samir Saied has said that Tunisia has no choice but to implement the reform plan presented to the IMF.
“We have presented a detailed reform plan to the IMF after losing credibility over the past few years,” state media outlet quoted Saied as saying on Tuesday during a conference organised by the Confederation of Tunisian Citizen Enterprises in the nation’s capital of Tunis.
“Otherwise, our children’s future could be at stake,” the Minister said, adding that the release of an IMF loan depends on the progress of the reform, Xinhua news agency reported.
The release of the loan in tranches will ensure the implementation of the country’s reform, he added.
On October 16, Tunisia and the IMF reached a staff-level agreement to support the country’s economic policies with a 48-month arrangement under the Extended Fund Facility of nearly $1.9 billion, Tunisian media reported on Saturday.
The final agreement on the arrangement is subject to the approval of the IMF’s Executive Board, which is scheduled to discuss Tunisia’s request in December, an IMF statement was quoted as saying.
The loan is expected to support the Tunisian government’ economic reform by restoring the country’s external and fiscal stability, enhancing social protection, promoting higher, greener and inclusive growth, as well as creating private sector-led jobs.