Tunisia’s foreign reserve dropped to cover 76 percent of import.
Experts in economy and finance saw this an evidence of the ongoing the structural crisis suffered by the Tunisian economy.
Domestic reserve of foreign currency in April witnessed a decline, compared to March when it reached TND14.222 billion (USD4.74 billion). Two days ago, it recorded a new total of TND13.091 billion (around USD4.36 billion), a drop of approximately 7.1 percent.
Tunisian foreign monetary reserves used to exceed 90 days of import, which is the minimum amount allowed for countries to guarantee the stability of their economy and financial transactions.
Tunisia sources from the local banking system said that the authorities’ providing of the strategic needs of wheat, oil, and medicine for several months to come contributed to the drop in reserves in hard currency.
In recent months, the government provided USD980 million for essential strategic needs (energy: USD760 million wheat: USD120 million and medicine USD100 million).
Should the sixth installment of the International Monetary Fund (IMF) worth USD250 million loan be paid, then the local reserve of foreign monetary will slightly re-balance.
The Central Bank of Tunisia (BCT) revealed Tuesday slight improvement in the dinar against the euro. Its value improved for the first time in more than six months to TND3.38 after it stood at around TND4.5.
The government has taken several measures to limit the exporting affecting the local foreign monetary reserve.
