10 January 2013 10:42 am | | 1


Share     Share       Share     Share  

Moody’s Investors Service kept Tunisia’s investment grade at Baa3 with a negative outlook, dismissing the risk of a default on its debt in the near future due to international support for the country, reported state news agency TAP.

“The country has been able, despite the difficulties during the year 2012 and especially the recession in Europe, to achieve a recovery and leave the recession,” said Senior Analyst at Moody’s Aurélien Mali, who was quoted in a communiqué by the presidency’s office.

Tunisia has raised enough funds on the international bond market to maintain a sustainable level of its public deficit and external debt, noted Mali.

The North African country has “a public debt-to-GDP ratio of 46% compared to a rate of 68.5% for a country with the same rating like Spain,” he specified.

The international community’s support for Tunisia was taken into consideration by Moody’s, which cited a drop in the interest rate of Tunisian sovereign bonds – maturing in 2020 – from 5.19% to 5.18%. This decrease in the country’s sovereign debt was negotiated on January 4.

The negative outlook of Moody’s rating reflects the risk that Tunisia’s sovereign debt will be downgraded in the next rating if the government does not achieve a timely transition and fails to control public expenditures, said Mali.

Share     Share       Share     Share  

  From the same category

            

Switzerland to Return $40 Million in Ben Ali Assets to Tunisia

Economy to ‘Remain Tough,’ 2015 to Be Worse, Says Government

Tunisia Pitches Development Projects to Arab Funders

Private Airline to Start Flights to New York

            

Ben Ali Family’s Corrupt Grasp on Tunisian Economy Detailed in New Report

New 5 Dinar Bill Replaces Last Ben Ali Banknote

African Development Bank Maintains $2.1 Billion in Support for Tunisia

Despite Possible Price Increase, Beer Drinkers Say They Will Keep Drinking

            

Elimination of Cement Subsidies Could Raise Construction Costs

Union and Government Discuss Potential Minimum Wage Increase

Protesting Police Officers Block Traffic at Major Tunis Roundabout

Bahrain Bank Funding New Three Billion Dollar Investment Center in Tunisia


Comments (1)

Trackback URL | Comments RSS Feed

  1. zokkarah says:

    I am waiting for this “Mark” guy and his buddies to say something nasty about the government of Tunisia and all Tunisians by proxy….

Leave Feedback


  Follow us

Connect on YouTube Connect on Google+ Connect to itunes Subscribe via RSS Feed



  Latest Videos


Play Video

Motocross Racers in the Forests of Bizerte, Tunisia

Bizerte, the northernmost city in Africa, hosted the fourth round of the...

Play Video

Endangered Whale Brought Ashore in Tunis Suburb

Onlookers in the popular tourist spot of Sidi Bou Said, near Tunis,...

Play Video

'Kima Enti:' Mixing Tunisian Traditions With Modern Design

"Kima Enti" is a hand-made art and design project launched by independent...

Play Video

One-Year Anniversary of Chokri Belaid's Death

On February 6, 2014, family and supporters of slain Tunisian politician Chokri...

Play Video

Klay BBJ explains his arrest

Tunisia Live's Nissaf Slama interviews rapper Klay BBJ on his music, arrest,...



Tabbed Structure - Regular
Tunisian Kidnapped in Libya: ‘They Can Kill Me’...
(2679 Views)
‘I Too Burned a Police Station,’ Online Activists...
(2663 Views)
Landfill Grows as Citizens Suffer: ‘We’ve Taken as...
(2305 Views)
Students Leaving Tunisian High Schools Face Difficult Choice...
(2036 Views)
Tunisia Starts First Post-Revolution Census...
(619 Views)
 
Tunisia Starts First Post-Revolution Census...
Students Leaving Tunisian High Schools Face Difficult Choice...
‘I Too Burned a Police Station,’ Online Activists Declare...
Landfill Grows as Citizens Suffer: ‘We’ve Taken as Much as We’re...
Tunisian Kidnapped in Libya: ‘They Can Kill Me’...
Low Turnout and Mixed Feelings for Algerians Voting in Tunisia...
Update: Libyan Kidnappers Demand Militants’ Release...
New Areas Around Chaambi Declared Military Zones...
Pollution Ravages Old Port of Tunis...