Tunisia has borrowed about TND 1,150 million in foreign currency from local banks since the beginning of 2023 under two syndicated loans.
This amount is twice the value of the foreign currency bank loan projected in the 2023 State Budget Report, which is estimated at TND 528 million.
Tunisia borrowed about TND 1.27 billion from local banks in 2021, and the government aimed to borrow TND 340 million, according to the 2022 finance law.
The government aims to raise TND 24.3 billion in 2023 from various domestic sources, such as treasury bills, the national bond issue and the foreign currency syndicated loan.
The Ministry of Finance announced on October 10, 2023 that 18 local banks had granted the state a second syndicated loan of TND 750 million in foreign currency, while the first loan, signed on 16 May, was financed by 12 local banking institutions for more than TND 400 million in foreign currency.
According to the report on the 2023 State Budget, the government will repay €140 million to local banks in March 2023 and €86 million in June 2023.
The ministry said that the state had repaid $5m to local banks in April 2023 and $43m in June 2023.
