The level of foreign exchange reserves has improved to reach 22.8 billion dinars as of June 14, 2023, equivalent to 97 days of imports. This comes after a decline to 93 days at the end of April 2023, as reported by the Central Bank of Tunisia (BCT) on Friday.
The central bank explained this increase as a result of receiving the first tranche of the loan granted by the African Export-Import Bank (AFREXIMBANK). Indeed, the Assembly of People’s Representatives approved on June 1, 2023, the contract for this loan valued at 500 million dollars (equivalent to 1,530 million dinars) for the benefit of Tunisia to finance the state budget.
This loan has been granted at a variable interest rate currently estimated at 10.28%. The repayment of this loan is scheduled over a duration of 5 years, with a two-year grace period.
Source: Agence Tunis Afrique Presse