The logo of the International Monetary Fund pictured in Washington, DC. (Photo by OLIVIER DOULIERY / AFP via CFP)
The logo of the International Monetary Fund pictured in Washington, DC. (Photo by OLIVIER DOULIERY / AFP via CFP)
The International Monetary Fund (IMF) is scheduled to hold a series of virtual meetings with the Tunisian government from Monday amid concerns that the North African country is facing its "worst recession since independence."
The meeting was confirmed by the spokesperson for the International Monetary Fund, Gerry Rice, at a press briefing on various issues.
"I can confirm that there would be an IMF mission February 14th to 22nd," Rice said when asked about the meeting.
"I can confirm the status of that mission would be virtual and where we are on Tunisia is the Tunisian authorities in the latter part of last year sent a letter to the IMF requesting a new fund supported program. So, over the past several months, IMF staff and the Tunisian authorities have held technical discussions, focusing on the immediate economic challenges, the country's priorities and the reforms to be implemented in order to overcome the crisis in the country," he added.
Last month, the IMF envoy to Tunisia, Jerome Vacher, said the country's economy needs "deep reforms" such as slashing its vast public wage bill.
He noted that the current recession can be attributed to the COVID-19 pandemic, which compounded pre-existing problems such as budget deficits and public debt.
Tunisia's debts have soared to nearly 100 per cent of Gross Domestic Product.
Its GDP plunged by almost nine percent in 2020, the worst rate in North Africa, only modestly offset by a three percent bounce-back last year.