Tunisian President Kais Saied has issued his strongest refusal yet regarding the conditions of a $1.9 billion International Monetary Fund (IMF) bailout.
Speaking on Thursday, Saied dismissed the requirements – which include cutting food and energy subsidies and reducing the public wage bill – as “diktats” that could spark civil unrest similar to the bread riots of 1983.
He emphasized that maintaining public peace is a priority and suggested that Tunisians must rely on themselves rather than foreign financing.
The stalled negotiations have heightened fears of a balance of payments crisis, as the country faces significant foreign debt repayments later this year.
While credit rating agencies have warned of a potential default and international bonds have dropped in value, Saied has attributed the economic struggles to internal corruption rather than a need for structural reform.
Despite warnings from European leaders like Italian Prime Minister Giorgia Meloni that financial collapse could trigger a surge in migration, Saied remains firm in his rejection of the IMF’s proposed fiscal medicine.
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