(Ecofin Agency) - The International Monetary Fund (IMF) committed $250 million in financing to Tunisia, an institution statement revealed July 6.

According to Reuters which relayed the news, this credit line is the fourth granted by the institution under a $2.9 billion 4-year credit program. The latter is expected to help the North African country implement economic reforms to keep budget deficit in check and revive a struggling economy.

Through reforms set so far to cut inflation (by increasing key rates) among others, Tunisian authorities expect the budget deficit to reduce to 4.9% of GDP next year, against 6% this year. This should bring growth to 3% in 2019, up from 2.3% this year.

Let’s recall that, under the loan program which is set to end in 2020, IMF has so far disbursed $1.139 billion.

Moutiou Adjibi Nourou