Credit line

Saudi Arabia conditions Tunisian credit line to IMF requirements

Saudi Arabia is willing to provide Tunisia with a financial facility to support the 2022 state budget, but on condition that the North African country meets International Monetary Fund (IMF) requirements for a restructuring plan , reports Business News.

Malek Zahi, Tunisian minister of social affairs, who was in the Gulf country last week for the summit of Arab ministers of social affairs, met with Saudi officials who have expressed their willingness to support Tunisia.

The kingdom is said to be ready to lend Tunisia $ 500 million to overcome economic difficulties and finance the state budget at less than $ 2.8 billion.

The Tunisian government presented Wednesday the national budget for next year estimated at 47.166 billion TD (about 16.4 billion dollars) including a deficit of 2.8 billion dollars. State resources amount to 38.6 billion TD.

Zahi, Business News notes, told President Kais Saied that the Saudi kingdom will only extend the credit if Tunisia implements a restructuring plan as recommended by the IMF.

Tunisia is in talks with the Washington-based financial institution for a financial facility.