Tunisia’s Central Bank Governor, Marouan Abassi, has mentioned that the country will kick off with economic reforms that have been delayed for years, adding that financial authorities have been working to maintain the stability of the currency.
The North African country recently reached a preliminary agreement with the International Monetary Fund (IMF) for a $1.9 billion rescue package that could be finalized in December. It is believed that the stimulus will help the country sort out challenges relating to food and fuel shortage.
The agreement with the IMF also seeks to unlock bilateral aid from country donors that want reassurance that Tunisia will put its finances on a more sustainable footing.
The reforms are expected to include reducing food and energy subsidies, in addition to reforming public companies and reducing public sector wages in real terms.
“In times of crisis, we find serious solutions. We did not take difficult reforms for years. During this period, we will,” Marouan Abassi noted.
He added that Tunisia aimed to keep the dinar stable and to give clarity to investors.