Analysis by Region - Africa - Tunisia
The longer Tunisia is cut off from international capital markets, the more desperate authorities are becoming to finance the fiscal deficit. In a move that will raise concerns with the IMF, the Parliament passed a law that will force the central bank to finance the country's fiscal deficit in 2025, to the tune of $2.2bn. This follows an injection of about $3.0bn from the central bank for the 2024 budget. However, the story does not end here: in October, MPs proposed a bill that will remove the central bank's exclusive right to determine interest rates and foreign exchange policy. Developments over the past couple of months have raised the country's risk profile.
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