IMF approves Tunisian treasury notes

IMF approves Tunisian treasury notes Tunis - Azhar Jarboui The International Monetary Fund (IMF) has approved Tunisia's $600 million treasury notes, sources said. Tunisian Central Bank Governor Chadli Ayari said: "Tunisia got the approval after its delegation's visit to IMF meetings in Tokyo recently." The government is expecting their budget deficit to decrease by 6 percent in 2013 GDP, compared to 6.6 percent this year. Ayari said the Tunisian economy's recovery may take longer than expected. He said the total investments in the industrial sector during the first nine months of 2012 was 14.8 percent. Ayari reportedly declined the foreign exchange reserve rate which could aid Tunisia for 96 days. "It's not a dangerous situation as some financial analysts claim," he said. He added that he is optimistic that the Tunisian economy is "not in a very bad state." But Ayari warned that three Tunisian banks are currently threatened, according to the credit rating agency Standard & Poor's classifications. Standard & Poor's is an American financial services company that publishes research and analysis on stocks and bonds.