Tunisia: foreign exchange reserves cover only 87 days of imports

The level of net foreign exchange reserves of the Central Bank of Tunisia (BCT) continues to worry. Its volume reached Tuesday, January 30, 2018 the equivalent of 12.08 billion dinars covering 87 days of imports only.
Considered as a financial safety net and used to meet the strategic liquidity needs of the Tunisian economy in case of external account pressures, the foreign exchange reserves reflect, with their current level, the vulnerability of the current account.
The level of Tunisia’s foreign currency reserves remained until 2003 globally below the bar of 3 months of imports.
The average of import days over the period 1987-2004, 17 years, was about two months, with at times, in the early 1990s, a stock of reserves below 1 month of imports.