Tunisia eyeing $1.8bn new foreign bonds
Tunis, February 7, 2014
Tunisia plans to issue around $1.8 billion in new foreign bonds with guarantees from the US and Japan, and a $435 million sukuk, this year, in major steps to help its economy to recover after its 2011 uprising.
Three years after toppling autocratic leader Zine El-Abidine Ben Ali and inspiring other "Arab Spring" revolts, Tunisia has won support from Washington in its progress towards full democracy after approving a new constitution last week.
A new caretaker government has taken over to run the country until new elections later this year. But despite political progress, high living costs and a lack of economic opportunities are still the main concerns for many Tunisians.
The package of financing will be a major boost for the country's economic stability and growth to consolidate on the political gains that are seen by many as a model for transition in the region.
"The end of political crisis in Tunisia and the approval of the constitution and an independent government opened doors that were closed for Tunisian economy," central bank governor Chadli Ayari said.-Reuters