After a four month delay which prompted observers to convey their concerns and suspicions about the International Monetary Fund (IMF) « lending freeze, » Tunisia is set to receive the second installment of its four-year $2.9 billion Extended Fund Facility (EFF) loan. The Tunisian government has agreed to set to work immediately with « delayed structural reforms, » including reducing spending on wages in the public sector and devaluing the national currency.
Between October 3-4, more than 90 public officials and representatives in international trade, cooperation, and governance convened in Tunis for the MENA-OECD Forum and Ministerial Conference. Participating governments signed the Tunis Declaration affirming their continued commitment to policy reform for “inclusive growth” and integration into the global economy.
Even in the discourse of the world’s greatest advocates of free-market economic growth, one is hard pressed to identify substantial economic merit associated with draft law 49/2015. Indeed, the President’s incorrigible faith in reconciliation as key for economic growth appears less founded in a comprehensive economic strategy than a political one.