Tunisia considers issuing a national bond in 2024 and raising a syndicated loan in foreign currency, with forecasts of raising domestic financing worth TND 3.5 billion.
These data are included in the draft State budget which is currently under discussion by the Assembly of People's Representatives (ARP). The draft State Budget provides for a budget of TND 77.8 billion, domestic debt of TND 11.7 billion, compared with a TND 28.1 billion debt.
The issue of a national bond loan aims to raise TND 2.8 billion, especially as this mechanism saw a large influx of subscribers in recent years.The government raised TND 3.2 billion in 2023 through a national bond issue.
Under the terms of a financing agreement to be signed with the banks in 2024, the value of the syndicated foreign currency loan will be half of the TND 1.1 billion syndicated foreign currency loan raised in 2023.
Repayments under the national bond issue stood at almost TND 5.8 billion for short-term treasury bills (52 weeks) and around TND 1 billion for assimilable treasury bills.
TND 752 million should be repaid under the syndicated loan in foreign currency (two tranches under the loans launched in 2021 and 2023).
The national bond issue is one of the main mechanisms for domestic debt, given the blockage of external financing mechanisms, including loans from the International Monetary Fund (IMF), and the difficulties in accessing international financial markets due to the downgrading of the sovereign rating.
Source: Agence Tunis Afrique Presse