Tunisia: First and Second Reviews Under the Stand-By Arrangement, Request for Waiver of Applicability and Nonobservance of Performance Criteria

February 12, 2014

Preview Citation

Format: Chicago

Tunisia: First and Second Reviews Under the Stand-By Arrangement, Request for Waiver of Applicability and Nonobservance of Performance Criteria, (USA: International Monetary Fund, 2014) accessed December 26, 2024

Summary

This paper discusses Tunisia’s First and Second Reviews under the Stand-By Arrangement, Request for Waivers of Applicability and Nonobservance of Performance Criteria. Program performance has been mixed. Weak budget composition, lower budget commitments, and deferred cash payments to 2014 resulted in overshooting of the end-December fiscal target for the central government primary balance. The implementation of structural reforms has been progressing, but with some delays linked to building a consensus during the political crisis and to technical difficulties. Looking ahead, the program will continue to focus on ensuring short-term macroeconomic stabilization while laying the foundations for sustained reforms that will reduce economic vulnerabilities and generate higher and more inclusive growth. The IMF staff supports the authorities’ request for completion of the combined first and second review.

Subject: Economic sectors, External debt, Fiscal policy, Fiscal stance, Foreign exchange, Government debt management, Public debt, Public enterprises, Public financial management (PFM)

Keywords: Banking system vulnerability, Central government financial operations, CR, Disbursement of SDR, Europe, Fiscal stance, Global, Government, Government debt management, Government share, ISCR, North Africa, Policy implementation, Policy transmission mechanism, Public enterprises, SDR, Transmission mechanism, Tunisian authorities

Publication Details

Pages:

92
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/050
Stock No:

1TUNEA2014001
ISBN:

9781475594843
ISSN:

1934-7685

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