Japan and the USA guarantee Tunisian bonds
Japan and the United States are about to guarantee $1.8 billion worth of new foreign bonds issued by Tunisia.Japan and the United States are about to guarantee $1.8 billion worth of new foreign bonds issued by Tunisia.
One billion will be guaranteed by Japan, the remaining $880 million by the USA. Most of the
issuing is scheduled to take place before the summer, following approval by both governments.
Chadli Ayari, Governor of the Central Bank, announced the move to Reuters.
“The end of political crisis in Tunisia and the approval of the constitution and an independent government opened doors that were closed for the
Tunisian economy," he commented.
Further financial support has been pledged by the International Monetary Fund and the European Union. The World Bank is expected to lend an additional $500 million, half of which will come in March.
Last year, the Tunisian budget ran an announced deficit of $3.2 billion, adding to existing problems such as the high cost of living and the lack of economic opportunities for the population.
The American guarantee is taken as a clear sign that Washington supports the country’s economy, weakened since Ben Ali was overthrown in 2011.
US president Barack Obama was among the world leaders who declared that the adoption of a new constitution could signal the beginning of a more stable Tunisia.