The International Monetary Fund calls on Tunisian government to review development plan

The International Monetary Fund (IMF) said Tunisia will need to change its development plan for 2016-202 if it wants to truly re-launch its economy.

The Central Bank of Tunisia cited the IMF’s call in a statement, adding there are risks undermining the gains of its revolution and creating a breeding ground for extremism.

The IMF supports Tunisia’s five-year economic development plan that focuses on job creation and the raising of living standards, the Daily Mail quoted the statement on Thursday. 

The Extended Fund Facility would last for four years, according to the statement.

Tunisia’s authorities face mounting anger over unemployment and are struggling to spur growth in an economy battered by terrorist attacks that have damaged the country’s key tourism sector. 

The government is planning an international conference later in the year to pitch for aid, loans with concessions, as well as public and private partnerships.

“The team will continue its discussions with the authorities as they finalize their reform priorities and fine tune plans for this year’s budget execution and financing needs,” the IMF said in the statement. 

“Additional financing will be needed to rebuild buffers, while at the same time correcting structural inefficiencies that lower Tunisia’s ability to create jobs and future growth potential.

Source: MENA