Activities of Eleonora FORENZA related to 2016/0039(COD)
Plenary speeches (1)
Macro-financial assistance to Tunisia (debate) IT
Amendments (11)
Amendment 3 #
Proposal for a decision
Recital 13
Recital 13
(13) The Union’'s macro-financial assistance should be an exceptional financial instrument of untied and undesignated balance-of-payments support, which aims at addressing the beneficiary’'s immediate external financing needs and should underpin the implementation of a policy programme containing strong immediate adjustment and structural reform measures designed to improve the balance-of-payments position in the short term.measures designed to contribute to the fight against poverty and the fostering of local development;
Amendment 4 #
Proposal for a decision
Recital 14
Recital 14
Amendment 5 #
Proposal for a decision
Recital 16
Recital 16
(16) The determination of the amount of the Union's macro-financial assistance is based on a complete quantitative assessment of Tunisia's residual external financing needs, and takes into account its capacity to finance itself with its own resources, in particular the international reserves at its disposal. The Union's macro-financial assistance should complement the programmes and resources provided by the IMF and the World Bank. The determination of the amount of the assistance also takes into account expected financial contributions from multilateral donors and the need to ensure fair burden sharing between the Union and other donors, as well as the pre-existing deployment of the Union's other external financing instruments in Tunisia and the added value of the overall Union involvement.
Amendment 6 #
Proposal for a decision
Article 1 – paragraph 1
Article 1 – paragraph 1
1. The Union shall make macro-financial assistance of a maximum amount of EUR 52000 million available to Tunisia ("the Union's macro-financial assistance"), with a view to supporting Tunisia's economic stabilisation and a substantive reform agenda. The assistance shall contribute to covering Tunisia's balance of payments needs as identified in the IMF programmedevelopment. That assistance shall be disbursed in the form of grants. It shall not be conditional upon the implementation of an IMF programme. The Memorandum of Understanding that will be agreed between the Union and the Government of Tunisia shall only include conditions that relate to the strenghtening of the democratic reform process in Tunisia, i.e the strengthening of democractic and human rights, including workers' rights, in Tunisia. The assistance shall first and foremost contribute to the fight against poverty and the fostering of local development; this includes a meaningful decrease in unemployment and poverty through the creation of unionised and decent jobs, in particular for young people, as well as the implementation of public investment programmes in the area of housing, health and education.
Amendment 7 #
Proposal for a decision
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The full amount of the Union's macro- financial assistance shall be provided to Tunisia in the form of logrants. The Commission shall be empowered on behalf of the Union to borrow the necessary funds on the capital markets or from financial institutions and to on-lend them to Tunisia. The loans shall have a maximum average maturity of 15 years.
Amendment 8 #
Proposal for a decision
Article 1 – paragraph 3
Article 1 – paragraph 3
3. The release of the Union's macro- financial assistance shall be managed by the Commission in a manner consistent with the agreements or understandings reached between the International Monetary Fund (IMF) andim of supporting the economic development of Tunisia, and with the key principles and objectives of economic reforms set out in the EU- Tunisia Association Agreement agreed under the European Neighbourhood Policy (ENP)the reduction of unemployment. The Commission shall regularly inform the European Parliament and the Council of developments regarding the Union's macro-financial assistance, including disbursements thereof, and shall provide those institutions with the relevant documents in due time.
Amendment 9 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
1. The Commission, in accordance with the examination procedure referred to in Article 7(2), shall agree with the Tunisian authorities on clearly defined economic policy and financial conditions, focusing on structural reforms and sound public finances, to which the Union's macro- financial assistance is to be subject, to be laid down in a Memorandum of Understanding ("the Memorandum of Understanding"). The economic policy and financial conditions set out in the Memorandum of Understanding shall be consistent with the agreements or understandings referred to in Article 1(3), including the macroeconomic adjustment and structural reform programmes implemented by Tunisia with the support of the IMF.
Amendment 10 #
Proposal for a decision
Article 3 – paragraph 3
Article 3 – paragraph 3
3. The detailed financial terms of the Union's macro-financial assistance shall be laid down in a LoGrant Agreement to be concluded between the Commission and the Tunisian authorities.
Amendment 11 #
Proposal for a decision
Article 3 – paragraph 4
Article 3 – paragraph 4
4. The Commission shall verify at regular intervals that the conditions referred to in Article 4(3) continue to be met, including whether the economic policies of Tunisia are in accordance with the objectives of the Union's macro-financial assistance. In so doing, the Commission shall coordinate closely with the IMF and the World Bank, and, where necessary, with the European Parliament and the Council.
Amendment 12 #
Proposal for a decision
Article 4 – paragraph 3 – point b
Article 4 – paragraph 3 – point b
Amendment 14 #
Proposal for a decision
Article 6 – paragraph 3 – introductory part
Article 6 – paragraph 3 – introductory part
3. The LoGrant Agreement to be agreed with the Tunisian authorities shall contain provisions: