help Since the 2011 revolution, Tunisia has sunk into economic difficulties, aggravated by the Covid-19 pandemic, with sluggish growth and very high unemployment
French President Emmanuel Macron (right) and Tunisian President Kais Saied greet each other during the opening of the 18th Francophonie Summit on the Tunisian island of Djerba, November 19, 2022. — MOHAMED HAMMI/SIPA
France will grant a loan of 200 million euros to Tunisia, which is going through a deep economic crisis aggravated by the war in Ukraine, announced; on Saturday President Emmanuel Macron at his Tunisian counterpart, Kaïs Saïed.
“The President of the Republic reiterated that France’s support for Tunisia and the Tunisian people in the face of the challenges facing the country,” of the Elysée.
Read Also
- Afghanistan: Taliban vow to improve economy Aug 19, 2021
- Argentina: At 76.6% since January, the inflation rate is accelerating further Nov 16, 2022
- The steel giant that is reeling in Holland due to its bad fumes Sep 4, 2021
- Risk of contagion of monkeypox is “very low” (European disease agency) May 23, 2022
- The 15-month highs of the Ibex 35 are an opportunity in these values May 30, 2021
- Green pass, Burioni: “Get vaccinated and don’t spend money on tampons” Oct 9, 2021
- Uruguay announces that it will seek trade agreements outside Mercosur Jul 8, 2021
The French head of state also congratulated himself on of the “constructive open dialogue between the government and the International Monetary Fund (IMF), hoping that it will lead to a definitive agreement.
A debt that exceeds 100% of GDP
Since the 2011 revolution, Tunisia has sunk into economic difficulties, aggravated by the Covid-19 pandemic, with sluggish growth and very high unemployment. ;s high. Russia’s invasion of Ukraine in February accentuated the the crisis in a country very dependent on imports of cereals and fuels, two sectors where prices are skyrocketing.
Suffocated by a debt exceeding 100% of Gross Domestic Product (GDP), Tunisia obtained mid-October an agreement in principle from the IMF for a new loan of some two billion dollars disbursable in installments at starting in December.
In return, the government has committed to to reforms including a gradual lifting of state subsidies for basic products (food and energy) and a restructuring of public companies which have a monopoly in many sectors.
Decrease in ;democratic since the coup of President Saïed
Emmanuel Macron also mentioned with his Tunisian counterpart the political situation in Tunisia, recalling that “fundamental freedoms” were “intrinsic” to “the democratic acquis” in Tunisia at the time when NGOs denounce a democratic backsliding since the coup by President Saïed in July 2021. Mr. Saïed, who took over all powers, promulgated a voting system which considerably reduces the role of the political parties which will take part in the legislative elections of December 17.
“The two leaders of” State also mentioned; the regional situation, particularly in Libya, and the means to strengthen cooperation in the Maghreb and the Mediterranean,” the Elysée.