Tunisia will benefit from a $300 million syndicated loan (€250 million) from several local banks to finance its 2021 State budget. The information was reported by Reuters, which relayed the comments of a senior government official.
The Finance department had called on banks to subscribe to the loan on Tuesday, February 9th, 2021. With a projected deficit of more than 6%, the Tunisian State budget for 2021 plans to borrow up to $ 7.2 billion in particular through Eurobonds or sukuk issuance operations.
While most of the borrowing is planned to be carried out abroad, about $2.2 billion should be raised on the domestic market. The objective for the authorities is to revive an economy affected by several years of crisis and the coronavirus pandemic. It should be noted that the Tunisian government is also considering obtaining a new financing agreement with the International Monetary Fund (IMF), backed by reforms aimed at cleaning up the economy.
"IMF staff view positively the authorities' efforts to untangle and resolve some of the existing cross arrears, and encourage the authorities to put in place a medium-term reform plan," the institution said in a statement.
Moutiou Adjibi Nourou
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...
Driven by above-average growth and rapidly expanding demographics, Francophone Africa is emerging as...
The World Bank is preparing a $175 million loan to rehabilitate Uganda's northeastern road corridor. The 340-kilometer trade artery links...
Algeria’s upper house approved a law classifying French colonial rule (1830–1962) as a crime. Authorities framed the legislation as a legal and...
Zimbabwe and Zambia signed an MoU for a 311 km rail link to support mining exports. The project could reduce transport distances to Beira port by...
Funding would modernize signaling on Tema–Mpakadan line Upgrade aims to allow simultaneous train movements Project tied to broader push to...
Nosy Iranja is one of the most iconic island destinations in northwestern Madagascar, lying in the Mozambique Channel about an hour and a half by boat...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...