banking

Settlement of US bond has impacted on foreign exchange reserves

August 1, 2021

(TAP)- The settlement of the US $500 million bond issued in 2014 by Tunisia has impacted on foreign exchange reserves, which went up to 20,378.1 MD against 21,876.8 MD and from 138 to 129 days of imports on July 23, according to the latest indicators published by the Central Bank of Tunisia (BCT).

This guarantee has a 7-year maturity and an interest rate of 2.452%, according to the Ministry of Economy, Finance and Investment Support.

Furthermore, Fitch Ratings pointed out in its note announcing the latest rating of Tunisia published on July 8, 2021, the decline of foreign exchange reserves in Tunisia from $9.4 billion (26 billion dinars) at the end of 2020 to $8.1 billion (22.4 billion dinars) at the end of May 2021.

This drop can only be explained by the settlement of external debt services worth 4.253 billion dinars since the beginning of the year until July 20.

Nevertheless, the foreign currency assets stabilised at 129 days of imports on July 29 against 127 days of imports two days earlier.

This slight increase was due in particular to the improvement in cumulative labour income and a slight improvement in tourism receipts in recent days.

tap.info

banking

Banks, Telcos Urged to Develop Cross-sec...
September 16, 2021
Next-Gen Open Banking Modular Fintech as...
September 13, 2021
Bank’s reach is tangible, its rele...
September 8, 2021