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Cash-strapped Tunisia wants to take the unprecedented step of borrowing billions from its central bank to address budget deficits and bandage its economic crisis, a step that experts warn could bring inflation and lessen faith in institutions. In an emergency meeting behind closed doors, parliament’s finance committee on Wednesday considered a request from President Kais… ....
Cash-strapped Tunisia wants to take the unprecedented step of borrowing billions from its central bank to address budget deficits and bandage its economic crisis. Experts warn could bring inflation and lessen faith in institutions. President Kais Saied’s government has asked to borrow the funds after it previously overhauled laws designed to guarantee the bank’s autonomy. It comes as Tunisia finds itself unable to borrow from traditional creditors, including the International Monetary Fund, whose proposed $1.9 billion bailout package remains in limbo. ....
Cash-strapped Tunisia wants to take the unprecedented step of borrowing billions from its central bank to plug budget deficits and heal its economic crisis, a move that experts say could cause inflation and undermine confidence in institutions. ....
Cash-strapped Tunisia wants to borrow billions from its central bank to shore up budget deficits and bandage its ongoing economic crisis. In a meeting behind closed doors, the North African country's parliament on Wednesday mulled a request from President Kais Saied's government to borrow funds after it previously overhauled laws designed to guarantee the bank's independence. The government wants the central bank to directly buy up to 7 billion Tunisian dinars ($2.25 billion) in interest-free bonds to help plug a 10 billion dinar ($3.2 billion) budget deficit. ....