Tunisia could face lack of currency reserves: central bank

Tunisia could face lack of foreign currency reserves: central bank
1 min read
07 October, 2021
The central bank had just 127 days' worth of foreign money supply at the close of last month.
Money coming into Tunisia from abroad has decreased [Mikel Bilbao/VWPics/UIG/Getty]

Tunisia could experience a lack of currency reserves within months the Central Bank of Tunisia's leadership body has said, while the affordability of the country's budget for this year has come under question.

Money coming in from abroad has significantly decreased, with one reason being greater costs linked to debt repayments, according to the Central Bank, Arabi 21 reported on Thursday.

The Central Bank said it had just 127 days' worth of foreign money supply at the close of last month, whereas 162 days' worth were available as of 2020.

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This is a difference of around 2 billion Tunisian dinars, from just over 23 billion to just under 21 billion in the given period.

The bank leaders issued a release after their gathering, noting global lenders are concerned given Tunis' failure to secure a loan scheme with the International Monetary Fund.

Tunisia now faces serious issues like inflation and the increased cost of oil is also threatening finances in Tunis, they said.