Tunisia in talks with UAE, Saudi Arabia for funds, official says

Tunisia is in “very advanced discussions” with Saudi Arabia and the United Arab Emirates for help in financing its budget, a central bank official said.

An agreement may be reached soon, the head of financing and foreign transactions at the Tunisian regulator, Abdelkarim Lassoued, said Saturday in a phone interview. He didn’t give details on the amount of aid being discussed.

Tunisia is battling long-running economic troubles and has been mired in fresh political upheaval since late-July, when President Kais Saied suspended parliament and assumed more powers. The central bank recently voiced concern over an “acute” drying up of foreign financing and the sustainability of public debt.

Lassoued also said the central bank and Finance Ministry have had recent discussions with the International Monetary Fund about possible economic reforms. The government must reach consensus with trade unions and business leaders on the steps so they can be enacted as soon as possible, he said.