Day: March 24, 2018

Tunisia seeks to build “Silicon Valley” by 2020

BGMN

A new Tunisian act that paves the way for entrepreneurs to establish startups but fears of losing ambitious plans in bureaucratic paths arouse. A large fringe of Tunisian entrepreneurs and young people are waiting for parliament next week to approve the draft law on establishing start-up companies, on which the government is highly betting to make a boost in the investment sector to move growth forward. The law aims at laying motivating foundations for the establishment of start-up companies based on the principle of innovation and the adoption of modern…

Tunisia’s leader calls for electoral reform, acknowledges reasons for disappointment with government performance

BGMN

Caid Essebsi left the future of the government led by Prime Minister Youssef Chahed hanging as speculation about a reshuffle continues. Tunisian President Beji Caid Essebsi called for a revision of the country’s electoral law but refrained from suggesting an expected constitutional reform to shore up presidential powers. Caid Essebsi said a small team of experts would study the possibility of amending the elections law and report on its conclusions. Any change of the law would be applied to parliamentary and presidential elections in 2019, not the municipal vote scheduled…

IMF releases additional $257 million for Tunisia

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The International Monetary Fund on Friday approved payment of a $257 million tranche of Tunisia’s loan programme, the country’s central bank said. The IMF board approved the second review of the country’s economic performance under the financial aid package that was initially approved in May 2016. With the latest instalment the IMF has lent the country nearly $1 billion, even though the board acknowledged the government had failed to meet some of its economic benchmarks. The IMF said Tunisia’s “growth-friendly and socially-conscious reforms will help stabilize public debt,” while “continued…