Tunisia's Foreign Currency Reserves Rise after It Sold BondSource: www.export-egypt.com 7/16/2019, Location: Africa |
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Tunisia’s foreign reserves have risen after it sold a 700 million euro bond last week, and are now enough to pay for 87 days of imports, official data showed Up from a previous level of 73 days.
Central bank figures showed that Tunisia’s foreign exchange reserves now stand at 15.596 billion dinars ($5.42 billion). The North African country’s economy has been in crisis since the toppling of autocrat Zine al-Abidine Ben Ali in 2011, with unemployment and inflation shooting up. It has struggled with tough economic reforms to reduce public spending. Last week, Tunisia sold a seven-year euro-denominated bond worth 700 million euros at an interest rate of 6.37 percent. ($1 = 2.8756 Tunisian dinars) |
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