IMF reports 'good progress' after Tunisia bailout talks

IMF building
(Photo: IMF)
TUNIS — Tunisia and the International Monetary Fund made "good progress" in talks over a potential multi-billion-dollar bailout for the country's crisis-hit economy, the lender said Wednesday.اضافة اعلان

The North African country is seeking urgent help for an economy plagued by low growth, as well as high public debt, inflation and unemployment.

The Washington-based IMF has called for "deep reforms" and public spending cuts.

The two sides on Tuesday concluded days of online meetings aimed at understanding the Tunisian government's reform program.

The IMF's Tunisia chief Chris Geiregat praised their "excellent collaboration".

"We made good progress and will continue our discussions in the weeks ahead," he said.

The IMF has previously voiced concern over Tunisia's budget deficits and in particular its public sector wage bill.

Tunisia's President Kais Saied, who suspended parliament and seized sweeping powers last summer, has said little about any planned economic strategy.

But Tunisia's powerful UGTT trade union confederation is expected to push back hard against any proposed austerity measures.

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