Month: March 2024

Rating agency Moody’s maintained Tunisia’s long-term foreign and local currency rating at “Caa2”, while improving theoutlook from negative to stable. Moody’s attributes the decision to a significant reduction in the current account deficit compared to historical levels and the agency’s previous forecasts. In its foreword, the agency highlights that the Central Bank of Tunisia, thanks to a new law approved by Parliament, is now “responsible for payments on all government bonds”, underlining that “these debt instruments are issued on behalf of the government”. In this regard, Moody’s underlines that the use…

The World Bank’s Board of Directors approved two new loans worth US$520 million Thursday, providing additional financing to address Tunisia’s food security challenge and to balance regional disparities through improved road corridor connectivity in the country, the World Bank said. “The two projects are aligned with the World Bank’s Country Partnership Framework (CPF) 2023-2027 for Tunisia, which aims to strengthen human capital and increase economic opportunities countrywide,” said Alexandre Arrobbio, World Bank Country Manager for Tunisia. “In close partnership with the Tunisian Government, we’ve also synchronized the projects with key national…

The Tunisian banking sector can continue to help meet the sovereign’s increasing financing needs in 2024 as healthy deposit growth and weak credit demand support sector liquidity, Fitch Ratings says. The sector’s total exposure to the sovereign should increase slightly as a result after declining in 2023.In the absence of an agreement with the IMF and given the scarcity of other sources of external funding, Tunisia has increasingly relied on the domestic financial sector, and banks in particular, to finance its budget. The 2024 budget envisages a 20% increase in…

The Foreign Investment Promotion Agency (FIPA Tunisia) has announced that Predrag Poposki, Project and Investment Lead of the Swiss group Zühlke Engineering, announced during his meeting on Wednesday, March 6 with Jalel Tebib, Managing Director of FIPA Tunisia, that the group has decided to set up in Tunisia. Founded in 1968 and established in some ten countries and specialising in strategy, innovation and the development of digital solutions and applications, Zühlke Engineering decided to set up in Tunisia for several reasons, including the availability of engineering talent, strategic positioning, proximity…

– This grant is intended to support “Tunisia in stabilising its macroeconomic situation and in its efforts to improve the management of public finances and the business climate”. The European Commission has announced that the European Union (EU) has disbursed €150 million in financial support to Tunisia. This is what emerges from a press release published by the European Commission, explaining that “the disbursement of this financial support in the form of a grant forms part of the programme of support for Tunisia’s macro-economic reforms (PARME), agreed by the EU…

Connect’Innov supports businesses in Tunisia by promoting entrepreneurship and technological innovation in the healthcare sector. It offers a range of services from pre-incubation to business acceleration. Connect’Innov is a Tunisian support institution dedicated to identifying, supporting and promoting innovation in the field of health technologies, in particular e-health, medtechs and biotechnologies. It was founded in 2020 by biochemist Wafa Bchir and accountant Hichem Radoine. It offers pre-incubation and outreach services with ongoing training for entrepreneurs and researchers. It also creates start-ups and supports innovative projects, offering incubation and acceleration programmes…