IMF Chief Offers Tunisia Support
International Monetary Fund chief Christine Lagarde vowed Thursday to support Tunisia and urged its new leaders to focus their efforts on job creation to win back investor confidence.
"The IMF in 2012 is not what it used to be in the eighties and is now a partner that will always be ready to support Tunisia if and when it needs it," Lagarde told reporters in Tunis.
The financial institution long suffered from a trust problem in developing countries due to past policies which conditioned loans on harsh measures that sometimes aggravated the crisis faced by borrowers.
A revolution toppled long-standing despot Zine el Abidine Ben Ali and sparked the Arab Spring a year ago, but Tunisia's economy has since shrunk 1.8 percent, unemployment has risen to 18 percent and tourists are staying away.
Tunisia has not yet asked for a loan but Lagarde said "the IMF stands ready" and added that the officials she spoke to were receptive to the offer.
The newly-elected interim administration in Tunisia should "focus on economic development and job creation... to restore the trust of Tunisian and international investors," Lagarde said.
Source: Agence France Presse
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