Analysis by Region - Africa - Tunisia

Analysis by Region - Africa - Tunisia

Another quarter has passed, and we are still not closer to an IMF deal than in any of the past few quarters. The Executive Board of the IMF still needs to approve the $1.9bn External Fund Facility (EFF) that was finalised in December last year. While we are still waiting for the final sign-off, other bilateral arrangements which are contingent on the IMF deal remain pending. The finalisation of the deal is key for the North African country to avoid a severe balance of payments crisis. Even if the deal comes through soon, the government’s external financing shortfall will remain very high this year.