Tunisian Prime Minister Najla Bouden on Friday highlighted the importance of bolstering cooperation with the World Bank to advance structural reforms in the country hit hard by a financial crisis.
Bouden made the remarks during her meeting with a World Bank delegation led by its Vice President for the Middle East and North Africa Ferid Belhaj, according to a government statement.
The Tunisian prime minister also stressed the importance of developing the country’s private sector and called for the World Bank’s support for small and medium-sized enterprises in Tunisia.
For his part, Belhaj called on Tunisia to improve its business environment in order to encourage investment, the creation of jobs, and support for the private sector.
The Tunisian government is seeking to negotiate with the International Monetary Fund (IMF) for a $4bn loan to avoid bankruptcy.
To unlock the IMF fund, Tunisia needs to implement deep reforms, including freezing wages, cutting energy and food subsidies, as well as privatizing some state-owned companies.
This comes as Tunisia is in the midst of one of the worst crises in decades. The North African nation has been experiencing a period of chaos and economic hardship in recent years and is trying to reform its entire economic system in order to put an end to problems such as unemployment, youth unemployment, inflation and the poor quality of life of Tunisians. Kais Saied, the country’s president, has announced a series of reforms aimed at establishing the stability Tunisia needs to fix its difficult economic situation.
The president is committed to raising the standard of living of Tunisians. Vulnerable groups have struggled to access basic services in recent years, and the country wants to reform various industries. This will be done through subsidies and the establishment of small businesses that are more available to them and will enable them to improve their economic situation.