(Ecofin Agency) - Tunisia’s treasury is targeting $500 million through a Eurobond operation, Lotfi Ben Sassi, adviser to the Prime Minister Youssef Chahed, announced.
“The banking groups Natixis and Citigroup are entrusted with the arrangement of the $500 million Eurobond operation,” the official said.
Monies to be raised will fund the budget deficit, which is estimated at 3.9% of GDP this year against 5% last year. Public debt is 74% of GDP and the government says it needs $2.5 billion in external aid for the FY2019.
In October 2018, Tunisia issued a $500 million Eurobond at a 6.75% rate.