Tunisia's Saied calls on citizens to rescue state finances

President Kais Saied urged Tunisians on Thursday to help replenish state coffers and overcome the country's financial crisis.

"I call on Tunisians both in Tunisia and abroad to find the necessary funds," he said at a cabinet meeting.

He did not give details of how contributions would be gathered.

"I reassure everyone that the money which will ease the financial crisis will be under the direct supervision of the presidency and the government," he said."We will overcome this crisis with hard work and the involvement of all citizens in getting out of this crisis."

Tunisia is heavily in debt and facing a deep economic crisis exacerbated by the coronavirus crisis, with 18 percent unemployment and steep inflation.

In mid-October, a central bank official was reported as saying the North African country was in talks with Gulf powerhouses Saudi Arabia and the United Arab Emirates for a bailout.

The financial crisis took a turn for the worse after Saied on July 25 sacked the government and suspended parliament.

Tunisia's central bank in early October warned against "the acute drying-up of the country's external financial resources" and a "significant" budget deficit.

Moody's ratings agency also downgraded Tunisia's sovereign debt from B3 to Caa1, with a negative outlook, warning of default unless the country secures "significant funding".