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IMF: Tunisia increases reserves and direct foreign investments

Saturday, 12 December 2009 23:37

International Monetary Fund (IMF) Deputy Managing-Director Murilo Portugal said, in Tunis, that Tunisia in spite of the world crisis, managed to bring down its public debt and doubtful debts, to increase its currency reserves and the volume of direct foreign investments (DFIs).

He said that it does not come as a surprise, the country is thus reaping the fruits of its reform policy and the measures taken in due time in order to cushion effects of the crisis.

Speaking during a news conference held on the sidelines of the African Development Bank (ADB)'s international conference, Mr. Portugal added that this does not mean that the country is spared by the crisis, whose impact was mainly felt at the level of exports and tourism.

He estimated that challenges are still posed to the country, notably regarding consolidation of public funds, reduction unproductive debts and employment of the higher-graduates.

Mr. Portugal pointed out the convergence of views between the two sides as regards evaluation of the situation in Tunisia, specifying that IMF takes into consideration the Tunisian proposals regarding internal reforms of the Fund.

As to these proposals, Central Bank Governor Taoufik Baccar asserted that they concern notably the flexible funding line proposed to emerging countries, specifying that this line opens up broad prospects for countries which are in need, mainly of guarantees to support some reforms, such as the total convertibility of the dinar.

He expressed Tunisia's will to reinforce its co-operation with IMF, notably in the fields of Tunisian skills' training and their participation in technical co-operation missions in third countries.

As to ADB's international conference, Mr. Portugal said that the Conference, which is gathering African backers, allowed to mobilise 130 million dollars for the benefit of the four African technical centres created by IMF.

Through these centres, the Fund brings assistance to Sub-Saharan African countries in matters of setting up solid macro-economic policy. (TAP)

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Last Updated on Saturday, 12 December 2009 23:56

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