Tunisian finance minister announces large repayment of foreign loans
(MENAFN) Tunisian Finance Minister Sihem Boughdiri Nemsia announced on Tuesday that Tunisia successfully settled outstanding foreign loans totaling 11.6 billion dinars (USD3.7 billion) during the first half of this year. This statement was made during a session of the Tunisian Parliament focused on ratifying a financing agreement concluded on May 16 between Tunisia and a consortium of local banks aimed at supporting the state budget, as confirmed by the House of Representatives.
The financing agreement, syndicated from local banks, amounts to 156 million euros (USD173 million), with an additional loan worth USD16 million. Minister Nemsia emphasized Tunisia's commitment to fulfilling its international financial obligations, highlighting the repayment of significant foreign debts by the end of June.
According to earlier figures from the Ministry of Finance, Tunisia is projected to repay a total of 24.7 billion dinars (USD7.96 billion) throughout the current year. Minister Nemsia also noted that Tunisia's gross domestic product (GDP) saw a modest growth of 0.2 percent in the first quarter of this year compared to the same period last year.
Tunisia has been grappling with severe economic challenges exacerbated by the COVID-19 pandemic and intensified by increased costs of energy and essential commodities following the onset of the Russian-Ukrainian war in late February 2022. These economic pressures have underscored the importance of financial management and strategic fiscal policies in navigating the country's economic recovery.
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