Tunisia to repay international bond loan of $ 503.5 million

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Tunis / Tunisia – Tunisia on Wednesday issued a $ 503.5 million bond ($ 500 million in principal and $ 3.5 million in interest), or 1,397.2 million with a guarantee from the US Agency for International Development (USAID) was issued on August 5, 2016, the Department of Economy, Finance and Investment Promotion said Thursday.

The net foreign exchange reserves decreased on August 5th from 20.5 billion dinars (129 days) to 19 billion dinars (ie 120 days of import) by the end of July.

The board of directors of the Tunisian Central Bank (BCT) said on August 3 that the lower mobilization of foreign exchange resources in the form of loans and foreign investment, as well as the substantial repayments made in July 2021 under the external debt, had an impact on the foreign balance of payments, with the net foreign exchange reserves coming to an end July 2021 will be reduced from 21,190 MD and 140 days of import in the same period of the previous year to 20,515 MD or 129 days of import.

At the end of July, Tunisia repaid another $ 500 million loan secured by the international financial market under a US guarantee agreement signed on June 3, 2014.

The loan with a term of 7 years and an interest rate of 2.452% affected the foreign exchange reserves, which decreased on July 23, 2021 to 20,378.1 MD, from 21,876.8 MD and from 138 days to 129 days for imports.

According to the 2021 state budget, Tunisia will repay the debt amount of 9 loans. These are equivalent treasury bills (line January 2021) worth 700.5 million dinars (MD) and a portion of the Qatari deposit of 250 million dollars (equivalent to 681 MD) in April 2021.

The loans Tunisia will repay include assimilated Treasury bills (June 2021 line) of MD 425 and two United States guaranteed bonds of $ 500 million (equivalent to MD 1,362.16). ), for the months of July 2021 and August 2021.

Tunisia will also receive loan installments in foreign currency in the amount of 203 million euros (equivalent to 669 MD) and 52 million dollars (equivalent to 141.38 MD) as well as an installment of the national bond loan in the amount of 166.6 million dinars and short-term Treasury bills (2435, 4 MD).

According to forecasts, the interest on public debt, which will be repaid in 2021, will be around 4.2 billion dinars (2.42 billion dinars).

Debt servicing is influenced by the exchange rate of the dinar against the main currencies (dollar, euro, yen …) as the euro accounts for 54.9% of Tunisian debt, followed by the dollar (22.3%).

Outstanding medium and long-term external debt is expected to reach MD 85,142 in 2021, up from MD 78,202 in 2020, while medium and long-term external debt servicing is expected to reach MD 10,704 in 2021, up from MD 8,432 in 2020 of 27%.

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