Net foreign exchange assets resumes “safety threshold" by covering 91 days of imports
16/07/2019 20:47, TUNIS/Tunisia

(TAP)- Net foreign currency assets at the Central Bank of Tunisia (BCT) on Wednesday amounted to 16.3 billion dinars, allowing Tunisia to cover 91 days of imports and reach "the safety threshold", according to data published by the BCT on its website.

These net assets have improved over the past few days to allow the country to cover 80 days of imports at the end of last week, before rising to 91 days of imports on Tuesday and slightly exceeding the “safety threshold "(90 days).

For other countries, rating agencies and investors, the country, whose assets are below this threshold, could hardly honour its external financial commitments (debts).

Last week, Tunisia managed to raise €700 million (about 2261 million dinars) at its last exit on international markets, which also comes after obtaining the fifth tranche of the extended facilitation agreement from the International Monetary Fund (IMF).

The increase in the country's foreign exchange resources is due to the revival of the tourism sector and comes at a time when "a record harvest" is recorded in cereal production, whose products are among the main foods imported by Tunisia.

According to BCT data, the value of banknotes and cheques exchanged yesterday Monday reached 12.9 billion dinars while the overall volume of refinancing amounts to 15.2 billion dinars and the current account of cash is 203 MD.

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