TUNIS - Tunisia's President Kais Saied gave his clearest rejection yet of the terms of a stalled $1.9 billion IMF bailout package when he said on Thursday he would not accept "diktats" and suggested that subsidy cuts could lead to unrest. Without a loan, Tunisia faces a full-blown balance of payments crisis. Most debt is internal but there are foreign loan repayments due later this year, and credit ratings agencies have said Tunisia may default. When asked what the alternative was to the IMF loan, the president replied: "Tunisians must count on themselves." Bailout talks with IMF have been stalled for months, with the United States and France, among others, demanding far-reaching reforms from Saied to free up the cash.

Source: The North Africa Journal April 07, 2023 09:17 UTC