Ahmed Murad (Tunisia, Cairo)
Tunisia continues its efforts to diversify its sources of financing, both at the regional and international levels, in addition to its tireless efforts to rely on its own resources, in light of the faltering negotiations with the International Monetary Fund regarding obtaining a loan worth $1.9 billion.
On January 5, the IMF placed Tunisia on the negative list for the first time since it joined it in 1958, following the delay in completing its consultations with its representatives in accordance with Article 4 related to reviewing the performance of the Tunisian economy, and the delay in completing consultations for a period exceeding a year and a half, in addition to the period The normal period granted is 15 months.
The Tunisian writer and analyst, Basil Turgeman, explained that placing Tunisia on the negative list of the International Monetary Fund will not affect the government’s political and economic performance in light of its keenness to diversify sources of financing, both at the regional and global levels, in addition to its efforts to rely on its own resources and capabilities through policies and programs. Comprehensive correctional facility.
Turgeman stated to Al-Ittihad that Tunisia succeeded, for the fourth year in a row, in paying the debt installments owed to it without borrowing from the International Monetary Fund, in addition to its continued assurances of respecting all its obligations towards regional and international donor institutions.
In October 2022, Tunisia reached an agreement at the expert level with the IMF regarding a loan program worth $1.9 billion, but negotiations between them later faltered due to Tunisia’s refusal to implement some of the Fund’s conditions, including lifting subsidies on some products, reducing the value of the dinar, and selling public institutions. Tunisia considers these unacceptable dictates that cause social tensions and affect civil peace.
The Tunisian writer and analyst downplayed the step taken by the International Monetary Fund towards Tunisia by placing it on the negative list, and that it will not affect cooperation between Tunisia and international donors and Arab and foreign investors. Some observers believe that this is just a routine procedure due to the failure to complete procedures to evaluate the performance of the Tunisian economy.
Turgeman said that Tunisia has made significant strides in the process of political, economic and social reform over the past years, and is moving forward towards implementing many other reforms, which makes it capable of confronting the financing crisis by achieving political and economic balance through a number of measures, including developing exports. Increasing tourism revenues, remittances from Tunisians abroad, diversifying aspects of cooperation with commercial partners, and others.
In turn, the Tunisian political activist, Suhaib Al-Mazriqi, considered that placing Tunisia on the IMF’s negative list is merely a political classification and not an economic one, especially since there are many indications indicating the beginning of the economy’s recovery, including an increase in the cash reserve in the Central Bank, and the government’s success in paying… Debts for the past year, in addition to its success in providing alternatives and other sources of financing.
Al-Mazriqi stated to Al-Ittihad that Tunisia has been a contributing member of the IMF since the 1950s, and despite that, it did not deal with it until the year 2012 with the arrival of the Brotherhood’s “Ennahdha” movement to power, and it was not classified on the negative list until after “the black decade.” Thus, we can confirm that the “Brotherhood’s” unpatriotic choices are what made Tunisia submit to pressure from the International Monetary Fund.
He pointed out that there are several sources and other alternatives for financing that Tunisia can resort to apart from the IMF, such as the African Development Bank and the Arab Bank, in addition to the bilateral borrowing mechanism with some countries, in addition to the trend towards relying on internal resources and working to create a new climate. It helps develop the performance of the economy.
#Tunisia.. #prominent #efforts #diversify #sources #financing #rely #selfresources