EconSource: IMF Disburses a Loan of $104.8 Million to Tunisia

The International Monetary Fund (IMF) announced the disbursement of a $104.8 million loan to Tunisia, the fifth installment in a program of $1.74 billion which started in June 2013 to support the country’s democratic transition. The overall results of the program have reportedly been satisfactory while structural reforms have been slow “with considerable delays in the recapitalization and restructuring of public banks”. Tunisia is set to continue its reduction of energy subsidies and control wage bill in the public sector. [Medafrica, 12/17/2014]

EU supports Egypt with EGP 80 million in tourism investments
The European Trade Chambers launched a new project in Egypt aiming at developing tourism. The project is to last three years and have a budget of 80 million Egyptian pounds funded by the European Union as part of the EuroMed Investment II program. Reportedly, “The EU is a source of more than 50 percent of foreign direct investment that constitutes more than 40 percent of the total European direct investment per Mediterranean countries.” [Daily News Egypt, 12/17/2014]

Morocco’s Central Bank governor rules out inflation pressure
According to the governor of Morocco’s central bank, domestic and external inflation will continue to evolve at “relatively” low levels with a sound balance of risks. Inflation is expected to stand at 0.4 percent for all of 2014 due to the rise of the minimum wages, revisions of water and electricity prices, and the expected oil products rates. In 2015 inflation will reportedly reach 1.2 percent and increase to 1.3 in early 2016. [MAP, 12/17/2014]

Libyan oil output plunges by 60 percent
Libyan oil output reportedly fell by 60 percent in the last days. According to officials of the al-Thinni government, clashes near the eastern Libyan oil hub and the Sidra port closure have had a significant impact on Libyan oil production.  Prior to the fall, production by the government had been at 800.000 bpd and the areas controlled by Libya Dawn militias produced 340.000 bpd. [ANSAmed, 12/17/2014]

Also of Interest:
Fitch: 2015 Middle East & Africa Outlook | Reuters
The Economist: Tunisia is the country of the year 2014 | ANSAmed
To build an entrepreneurship ecosystem in Yemen | Yemen Times
Morocco to launch a $4.6 billion natural gas project | Morocco World News
Egypt-China trade exchange to reach $11.5 billion by 2015 | Egypt Independent