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Thursday 17 June 2021
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Tunisia: CenBank announces increase in foreign exchange reserves to 103 days of import

The Central Bank of Tunisia (BCT), on Thursday, announced that the level of foreign exchange reserves rose to 103 days on August 22, 2017, after the receipt of the €456-million World Bank loan.

The BCT stressed the cyclical nature of the evolution of reserves in Tunisia, linked to economic activity.

It added that the management of the foreign currency asset may witness, as was recently the case, a certain lag between maturing expenditure and planned revenue, which sometimes leads to relatively sharp declines.

This was the case in mid-August, when the stock of foreign currency assets reached 90 days of import, notably after the repayment in principal and interest of the Samurai VI bond (12.7 billion yen), noted the same source.

The BCT stressed that this decline is momentary, stating that it is working to maintain this stock above a strategic level.

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