Tunisia’s Foreign Currency Reserves Rise to $8 Billion

Tunisia's Foreign Currency Reserves Rise to $8 Billion (News Central TV)

Tuninia’s central bank figures showed on Friday that Tunisia’s foreign currency reserves rose to $8 billion. This is equivalent to 130 days’ worth of imports, boosted by a spike in remittances from workers abroad and a $700 million loan facility from the Africa Export Import Bank.

Tunisia’s stockpiles last week were enough to cover 115 days of imports. Tourism income climbed by 48 percent from January to April 10 this year compared to the same time last year, reaching 600 million dinars ($200 million).

Tunisia, which is in the midst of a severe financial crisis, is counting on remittances from foreign workers and the key tourist sector to keep the country’s finances from collapsing.

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This year, the Tunisia anticipates 4.7 million tourists. Tunisia’s remittances from overseas employees increased 15% year on year to $630 million from January through April 10. In the year 2021, remittances reached a new high of 7.5 billion Tunisian dinars.


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