Tunisia Seeks To Recover $2.72 Billion Of Bad LoansSource: www.export-egypt.com 4/10/2018, Location: Africa |
|
|
|
|
|
Tunisia plans to recover 6.5 billion dinars ($2.72 billion) of bad loans in three public banks as part of its banking reforms, the minister of economic reforms told Reuters .
Banking reform was required by the International Monetary Fund which it agreed in 2016 to assist Tunisia with a four-year loan programme worth about $2.8 billion. In 2015, the government injected $400 million to re-capitalise struggling state lenders Societe Tunisienne de Banque (STB), Banque Nationale Agricole (BNA) and Bank de l’Habitat(BH). “We started to reform public banks through new plans for good governance, then we raised their capital, and now we are trying to improve the performance and by seeking to recover bad loans amounting to 6.5 billions dinar,” Taoufik Rajhi, minister of economic reforms, told Reuters. “The government has sent a bill to the parliament to give banks legal tools to recover bad loans such as the possibility of canceling the delay penalities and give these banks the right of reconciliation with clients,” he said. A committee will be set up to monitor this work, which will include five lawmakers. The North African country is in the midst of an economic slump and under pressure from foreign donors to cut a bloated public payroll and a budget deficit. Tourism revenue has recovered in recent months after suffering attacks by Islamist militants in 2015, but economic growth remains weak. Investors continue to avoid Tunisia, which has been in turmoil since the 2011 uprising that toppled its long-time ruler, Zine El-Abidine Ben Ali. |
|
|
Financials and Investment News in Tunisia >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Tunisia Oil & Gas 1 >> 2 | |
