The draft law No. 32/2023 on the approval of the financing agreement signed on October 10, 2023 between the Republic of Tunisia and a group of local banks to finance the state budget through a syndicated loan agreement in foreign currency for nearly TND 750 million (equivalent to pound 213 million and $13 million) was approved on Monday by the Assembly of People’s Representatives (ARP) with 122 votes in favour, 10 against and 8 abstentions. The bill was passed during a plenary session attended by Finance Minister Sihem Namsia. This agreement was signed between the Ministry of Finance and 18 local banks to finance the state budget as provided for in the 2023 Finance Act. The banks involved are Bh Bank, Amen Bank, Attijari Bank, Banque Internationale Arabe de Tunisie (BIAT), Union Bancaire pour le Commerce et l’Industrie (UBCI), Société Tunisienne de Banque (STB), Banque de Tunisie (BT), Arab Tunisian Bank (ATB), Banque Zitouna, Banque Nationale Agricole (BNA), North Africa International Bank, Al Baraka Bank, Banque Tuniso-Libyenne (BTL), Wifak International Bank, Tunis International Bank, Bank abc, Banque Tuniso-Koweïtienne (BTK) and Banque de Tunisie et des Emirats. This loan is aimed at diversifying the sources of financing of the State budget by using the resources of foreign currency deposits of non-residents in local banks in order to ease the pressure on the local financial market, where liquidity is becoming increasingly scarce. Speaking at the plenary session, the minister said the debt policy was not arbitrary and that all the loans submitted to the ARP were part of a carefully considered strategy. “We must not forget the delicate situation of public finances”, she added, pointing to the need to “continue working to resolve this situation that has lasted for many years”.
Source: EN – Agence Tunis Afrique Presse