TUNIS - Tunisia is preparing an alternative proposal to put to the International Monetary Fund (IMF) after President Kais Saied rejected the terms of a $1.9 billion loan agreement negotiated last year, a senior government official said. The official said Saied believed cutting subsidies would hurt vulnerable people and the new proposal would not include such measures. However, the official did not give any timeline for Tunisia to submit the proposal or for the likely negotiations it would involve with the IMF. The official did not say if Tunisia wanted to amend that part of its proposal. The official did not describe what other measures Tunisia might lay out to the IMF to bring down deficits and long-term debt if subsidies could not be cut.

Source: The North Africa Journal June 14, 2023 02:18 UTC