Hit by economic crisis, Tunisia has received a $500 million loan lifeline from the World Bank.
The money is to support the North African country’s budget, an official said on Thursday.
The disbursement raised Tunisia’s foreign
exchange reserves to the equivalent of 78 days of imports, up from the
equivalent of 68 days seen in recent weeks.
exchange reserves to the equivalent of 78 days of imports, up from the
equivalent of 68 days seen in recent weeks.
The country’s economy has been in crisis
since the toppling of autocrat Zine al-Abidine Ben Ali in 2011, with
unemployment and inflation shooting up.
since the toppling of autocrat Zine al-Abidine Ben Ali in 2011, with
unemployment and inflation shooting up.
Tunisia plans to issue $1 billion in
bonds in early October to help cover 2018’s deficit, a senior official
told Reuters last week.
bonds in early October to help cover 2018’s deficit, a senior official
told Reuters last week.
Tunisia expects economic growth to
accelerate to 3.5 percent next year from an expected 2.9 percent in
2018, driven by a recovery of the tourism industry and an expanding
agricultural sector.
accelerate to 3.5 percent next year from an expected 2.9 percent in
2018, driven by a recovery of the tourism industry and an expanding
agricultural sector.
