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Bond Market News
Tunisia’s Dollar Bonds Rise on “Very Good Progress” with IMF
February 15, 2023
Offshore bonds of BCT, the Central Bank of Tunisia rallied by over 5% as IMF Managing Director Kristalina Georgieva said that Tunisia has made “very good progress” on steps needed to approach the IMF’s approval of a loan program. Specifically, she said that she expects to see “in the next weeks — not months — a conclusion of the remaining actions so we can go to the board and Tunisia can get the support from the IMF and from its partners”. In December 2022, the IMF postponed a meeting of its board to review an agreement that its staff has reached in October with Tunisian authorities for a $1.9bn loan for a 4Y time period. The statement by the IMF chief is a welcome breakthrough for the nation especially following political worries.
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