Follow the latest in economic news and developments about the Arab transition countries.
IMF releases $225 million to Tunisia
An IMF mission led by Mr. Amine Mati visited Tunis from March 6–24, 2014 to conduct the third review of Tunisia’s economic and reform program supported by a 24-month Stand-By Arrangement (SBA). The team announced its agreement in principle to give Tunisia a loan of $225 million as part of a loan agreement signed between the two parties in June last year, for a total amount of $1.7 billion. [IMF, African Manager]
An IMF mission led by Mr. Amine Mati visited Tunis from March 6–24, 2014 to conduct the third review of Tunisia’s economic and reform program supported by a 24-month Stand-By Arrangement (SBA). The team announced its agreement in principle to give Tunisia a loan of $225 million as part of a loan agreement signed between the two parties in June last year, for a total amount of $1.7 billion. [IMF, African Manager]
Egypt’s energy debacle continues this week with conflicting statements from the Petroleum and Electricity Ministries. Egypt’s energy shortage has driven the government to find alternatives to scarce natural gas resources in a scramble to fire up power generators, allowing the city that never sleeps to stay wide awake. [Mada Masr, Mada Masr-gas]
In 2012, Yemen requested assistance from the donor community to cover a deficit of $11.7 billion to fund the Transitional Program for Stability and Development (TPSD) for the years 2012-2014. The same year donors pledged $7.9 billion for the years 2012-2015, more than half coming from GCC countries, to help cover this funding gap. By Jan. 30, 2014 more than 90 percent of these pledges have been allocated, which means they have been reserved by the donors to specific projects in the TPSD. [Yemen Times]
Libya has shut the El Feel oilfield because the pipeline to Mellitah port has been closed, state-run National Oil Corp (NOC) said on Monday. National oil production will fall to around 150,000 barrels a day on Tuesday as result, from 230,000 bpd as of Sunday night, a spokesman for NOC said. [Reuters]
Also of Interest:
Analysis: Factory unrest threatens attempts to revive Egyptian economy | Reuters
Upper Egypt villages slated for development | Al-Shofra
AFESD invests $412 million in Egypt | DNE
Strikes risk permanently damaging Libya’s oil and gas reserves warns Eni chief | Libya Herald
Morocco, Mali sign action plans for economic and trade cooperation | MAP
EIB signs €150 million funding deal to modernize Moroccan roads | ENPI
Tunisia banks still vulnerable | Zawya DJ
Tunisia: Taxes account for 70 percent of state revenues | LM (French)
Former Tunisia president changed business rules to family’s benefit | FT
Jomaa: Monitoring team to accelerate projects implementation in Jendouba | TAP