IMF ready to provide funds to help Tunisia recovery
By Anna Yukhananov | November 15, 2012 1:35 PM EST
The International Monetary Fund is willing to provide external financing to Tunisia to help it recover from last year's political turmoil, David Lipton, the IMF's first deputy managing director, said in a statement on Wednesday.
"The IMF stands ready to help Tunisia with policy advice, technical assistance and, if appropriate, financing," said Lipton, who visited the country this week and met with political and business leaders.
Tunisia was swept up in the Arab Spring uprisings last year across the Middle East and North Africa, which toppled its ruler after an almost 23-year reign.
Since then, several countries in the region have struggled to regain economic stability while dealing with political transition and a slowing global economy. Governments have spent billions to create jobs and cope with rising living costs.
In its annual assessment of Tunisia earlier this year, the IMF said the north African nation is still struggling to emerge from recession and faces risks from the euro zone debt crisis and internal tensions.
Lipton said countries in the region should engage with the international community and private investors to shore up growth and create jobs.
"Many problems in the Arab countries in transition do not have ready-made solutions; work with many partners is necessary to address them," he said.
Lipton also said structural reforms were needed, such as an improved business climate, and a social safety net to protect vulnerable populations.
The international community promised funds to help Arab Spring states transition to growth, but local officials have complained that much of the money pledged has not materialized.
Political instability in some countries has deterred some donor governments and institutions, while others struggle with budget pressures of their own.
The IMF has promised a further $35 billion in funding to countries affected by the Arab Spring uprisings. It is now negotiating a loan to Egypt.
(Reporting by Anna Yukhananov; editing by Christopher Wilson)
Most Popular Slideshows
- Prince Harry & Camilla Thurlow Getting Serious, St. Tropez Holiday Before The Prince’s 30th Birthday [PHOTOS]
- Angelina Jolie & Brad Pitt Heads to Malta For New Movie After A Whirlwind French Wedding [PHOTOS]
- Prince William & Kate Middleton Caught Flirting In A Countryside Dinner Date [PHOTOS]
- Chris Martin Getting Serious With Jennifer Lawrence, Actress Joining Coldplay Tour [PHOTOS]
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Apple iPhone 6 Actual Release Date after September 9 Confirmed 128GB Variant with New Resolution
- Moto G2 Release Roundup: Specs, Pricing, and Release Date Details
- PlayStation 4 Killing Xbox One Costing Microsoft Millions But It's Fine
- Google Chrome 64-bit for Windows 8 and Window 7 with Mac Beta Available
- Apple iOS 8 vs Android 5.0 L: OS Wars Puts Android to Lower while Apple to Higher
- Nexus 6 on Release Date Confirmed with Phablet-Size Display as FCC Filing Hints of 5.9-Inch Screen
- Google Can Kill Samsung with Android KitKat and Android One: Here's How