Tunisia: Banks are experiencing a liquidity crisis, says expert
The Central Bank of Tunisia (BCT) has announced in a statement that banks have received fewer deposits in the first half of 2013 compared to the same period last year.The Central Bank of Tunisia (BCT) has announced in a statement that banks have received fewer deposits in the first half of 2013 compared to the same period last year, with the deposit progression rate declining from 4.1 percent in 2012 to 2.4 percent this year.
The BCT also noticed a slowdown in contributions to the economy during the same period, declining from 5.1 percent in 2012 to 3.2 percent during the first half of 2013.
According to the central bank, this situation increases banks'
liquidity needs and the BCT has therefore intensified its interventions
the money market, "which reached on July 30th, their highest level since the beginning of the year."
Wissem Messadi - a bank management expert quoted by the newspaper La Presse - said that this record level of refinancing is a
cause for concern.
"Banks will ask the BCT to refinance them by providing guarantees with an approximate assessment. Currently, banks are short of cash. On one hand, they lend to investors that are mostly speculators and on the other hand, depositors are fewer," he said.