IMF: Tunisian Economy Reforms Must Continue

07 Oct 2015
  • IMF: Tunisian Economy Reforms Must Continue

The Executive Director of the International Monetary Fund (IMF), Christine Lagarde has urged Tunisia to continue its “raft of reforms” while praising the “resilience” of an economy facing numerous difficulties.


“The Tunisian economy has demonstrated resilience despite the attacks” terrible “Bardo and Port El Kantaoui and international economic situation is not easy,” said in a press statement Lagarde, who met with the president Beji Caid Essebsi and Prime Minister Habib Essid.


“In our discussions with Mr. head of government, we agreed on the need to move forward as soon as possible the raft of reforms that remains to run,” she said.


“To maintain growth, to create the conditions for prosperity, for especially creating jobs it is imperative to both maintain security, macroeconomic and financial stability so that confidence is restored” in Tunisian and foreign investors has she further said.


“To do this it is evident that the banking system must be strong,” Ms. Lagarde said, also citing the need for “a State and an efficient civil service, a fair and efficient tax system and a business climate that is more conducive to competition and a modern social safety net. ”


She said she was “confident (…) in the capacity of Tunisia to face these challenges.”


Since the 2011 revolution, the country is struggling to revive its economy. The situation has worsened with the attacks of Bardo in March and Port El Kantaoui in June, which killed 60 people including 59 tourists and badly affected the sector.


In the first half 2015, the growth was 1% and could further slow to 0.5% throughout the year, according to the Ministry of Finance.


By Conor Sheils | Published in Tunisia Live | September 9, 2015

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