The government has repaid Tunisia's debts due in 2023, relying on new domestic loans. However, it struggles to secure external financing in the absence of a definitive agreement with the IMF on a $1.9 billion aid program.
Tunisia's debt service is expected to increase by 40% in 2024 compared to 2023, reaching $4 billion amid a drying up of external funding, the Ministry of Finance revealed in a January 22 statement.
According to the paper, Tunisia "successfully repaid all its domestic and external debts in 2023, despite significant pressure on public finances", dispelling doubts about the possibility of default. Indeed, local economists point out that the government has relied heavily on new domestic borrowing to repay debts that matured last year, thus considerably reducing liquidity and limiting bank financing of the economy. The country struggles to mobilize external financing in the absence of a definitive agreement with the International Monetary Fund (IMF) on a $1.9 billion aid program. The North African country had signed a preliminary agreement with the IMF on this aid program in October 2022 before suspending negotiations with the institution.
In April 2023, Tunisian President Kais Saied rejected the IMF's "dictate" that links the disbursement of funds to economic reforms, including ending subsidies on basic goods, reducing the public sector wage bill, and privatizing state-owned enterprises. He argued that such reforms could "lead to further impoverishment" and "trigger bloody riots similar to those sparked in 1984 by the increase in the price of bread."
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...
Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...
• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...
Malawi votes in high-stakes presidential election Tuesday Economic crisis, inflation dominate vot...
Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...
Trade deficit down to $758.9 mln in Q2 2025 from $867.3 mln a year earlier. Exports dropped 35.6%, while imports declined 20.5%...
Local firms deliver digital solutions for transport, health, and territorial admin. Systems include biometric licenses, hospital records, and local...
Orion Minerals signs non-binding funding deal with Glencore for Prieska project. Financing of $200–250 mln planned in two stages, tied to 10-year...
Brice Morlot moves from CFO to head of operations, replacing Lin Espey. Thomas Young shifts from strategy to CFO as company targets 90,000 bpd by...
Surprisingly, only one African song made it onto Rolling Stone's list of the 500 Greatest Songs of All Time. The track is "Essence," a collaboration...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...