Tunisia to issue Eurobond of up to €1billion

Mar 16, 2016

The aim is to finance part of the country's deficit.

Tunisia is planning to issue a Eurobond that could reach €1 billion
in the second fortnight of April, Reuters has learned from a government official.

"We will go to the international market in few weeks ... it should be between mid-March and May 2016, for between 750 million euros and 1 billion euros," the official said.

He said the financing would help cover part of the budget deficit. The country had already announced in October that it would issuing an Islamic bond, or sukuk, worth €450 million in the course of 2016.

Tunisian Finance Minister Slim Chaker said that the external financing needs of Tunisia are expected to reach three billion dinars (€1.3 billion) this year.

"Our total needs in 2016 will be six billion dinars, including three billion dinars from external loans," Mr Chaker said.

Tunisia expects economic growth to recover in 2016 after slowing almost to a halt in 2015, when two terrorist attacks hit the tourism industry.

Tunisian growth is expected to reach 2.5 percent this year compared with 0.5 percent in 2015.ADNFCR-2976-ID-801814676-ADNFCR