government

Mechichi's government readying to issue national bond loan (text of draft decree)

June 10, 2021

(TAP) – Hichem Mechichi's government is readying to issue a national bond loan to mobilise domestic loan resources without setting the value of the loan or its launch date.

The draft government decree on the loan, which subscription is open to natural and legal persons, was adopted at a cabinet meeting held on Monday.

Under the draft government decree, a copy of which was received by TAP, the loan is aimed to help the State leverage a fraction of its needs amid sustained financial pressure brought by the Covid-19 pandemic.

The loan will offer the opportunity for all segments of society to help the country overcome the financial crisis.

Mechichi's government said the move was driven by the need to mobilise financial resources of up to 18.5 billion dinars to fund the State budget for 2021.

This will cover domestic and external debts - 5.6 billion dinars and 13 billion dinars- the same source said.

Early 2021, reads the text of the draft decree, saw sustained financial pressure as a result of the pandemic which took its toll on growth, budget balance and liquidity needs.

The Tunisian economy contracted 3% in Q1 of this financial year and slipped into negative growth of 8.8% in 2020.

tap.info

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