Tunisia could soon issue a bond on the Chinese financial market

Dec 21, 2016

The government wants to finance its economic reforms.

Tunisia may soon issue a bond on the Chinese financial market to finance its economic development, according to the Central Bank of Tunisia (BCT).

"BCT Governor Chedly Ayari and his Chinese counterpart, Zhou Xiachuan, have examined the possibility of issuing a bond on the Chinese financial market, which will help mobilise funds to finance economic development projects in Tunisia," said the BCT in a statement seen by the Ecofin agency.

The two governors have agreed on the principle of entering into a currency swap agreement "for the purpose of settling part of the commercial and financial transactions in national currency, thereby mitigating exchange risks for both parties and increasing the interest of Chinese importers in Tunisian products".

The government is pursuing important economic reforms that will provide the foundation for its growth and prosperity.

The North African country is struggling after two terrorist attacks hit the tourism industry in 2015, on top of the lingering effects of the 2011 political crisis.

The World Bank plans to lend Tunisia $5 billion over five years to revive its economy.ADNFCR-2976-ID-801830267-ADNFCR