First Independent Mena Newspaper
Italian authorities busted a migrant trafficking network with links to radical groups operating between Italy and Tunisia. The criminal network was dismantled following the arrest of 13 suspects in a high-speed migrant trafficking ring operating between Tunisia and Sicily whose members espoused radical jihadist views. Police in Sicily said that a wiretapped conversation between two […]
Tunisia continues to face elevated macroeconomic vulnerabilities and high unemployment, said the IMF Executive Board after completing the second review under the Extended Fund Facility (EFF) Arrangement. In 2017, Tunisian economy made a modest recovery. The country’s debt has “continued to increase, inflation has accelerated, and international reserve cover is now less than three months […]
The International Finance Corporation (IFC), the World Bank’s private sector arm, said it plans to invest $373 million in Maghreb nations, mostly in Morocco and Tunisia as the two nations cut spending to reduce budget deficits. IFC investments in the region are designed to help the two North African governments form private-public partnerships to help […]
Credit rating agency Moody’s downgraded Tunisia’s credit rating to B2 against the backdrop of deteriorating fiscal situation, complicating the government’s plans to borrow from international lenders. Moody’s cut Tunisia’s rating by one notch to B2– five levels below investment grade and on a par with Argentina, Nigeria, Cameroon and Kenya. Moody’s rating downgrade will complicate […]
More than 1000 women marched in the streets in Tunis Saturday to demand equal inheritance rights for both sexes following a debate that left the Tunisian society divided. The current Tunisian inheritance law is based on Islamic jurisprudence, which grants women half of what it gives men in inheritance, while making men financially responsible for […]
Tunisia’s economic indicators are “frightening” as the country is unable to defend its currency “even if it wanted to,” and must instead focus on narrowing its trade deficit to revive the economy, Central Bank Governor Marouane El Abassi said. The statement reflects the depth of the country’s economic and financial crisis after the Central Bank […]
Due to a crisis that has hit vital sectors of the Tunisian economy, Tunis continues to eat into its foreign exchange reserves, which have dwindled to $4.6 billion covering 80 days of exports, the central bank said. The bank attributed the decline to the country’s need to use foreign exchange funds at the beginning of […]
Tunisia will invest about $ 5 billion (12 billion dinars) in electricity and energy projects, between 2018 and 2020. According to a statement released by the government, the electrical projects include the construction of a submarine power- transmission line, with a transmission capacity of 600 MW. The infrastructure to link the country to Italy is […]
The European Bank for Reconstruction & Development (EBRD) has provided the Tunisian banking and insurance software developer Vermeg a €25 million loan for the acquisition of Lombard Risk, a leading global provider of integrated regulatory reporting and collateral management solutions. Founded in 2002, Vermeg counts major internationally-renowned financial institutions and central banks in more than […]
Saudi Arabia has requested Tunisia to close the Tunis office of the Qatar-created Union of Muslim Scholars, which has been added to the anti-Doha quartet’s terror list. Riyadh instructed a visiting delegation of Tunisian officials, led by interior minister Lotfi Brahem, to close the office, Tunisia media Al Soutour reported. The Syndicate founded in […]