The benchmark interest rate in Tunisia was increased by 25 basis points to 7.25 percent on Wednesday, marking the second increase in five months.
Additionally, the central bank agreed to increase the savings interest rate by 25 basis points to 6.25 percent.
From 8.6% in August to a record 9.1% in September, inflation in the North African nation increased.
The central bank recently raised the benchmark interest rate by 75 basis points in May.
In exchange for difficult changes including cutting expenditure and energy and food subsidies, Tunisia is asking the International Monetary Fund for a loan as it struggles to repair its severely damaged public finances.
In order to combat the nation’s high inflation rates, the International Monetary Fund has urged for additional monetary tightening.
In a statement, the bank stated that its foreign exchange reserves were $23.848 trillion dinars ($7.
On September 28, there were 34 billion dinars, or 112 days’ worth of imports, as opposed to 23. 313 billion dinars, or 133 days’ worth of imports, by the end of 2021.
According to the bank, the current account deficit for the first eight months of 2022 was 10.1% of GDP, up from 6.6% in 2021.
In the upcoming period of this year, he anticipated that inflationary pressures, fueled by both internal and foreign causes, will continue.
The basic interest rate is increased by 25 basis points by the Tunisian Central Bank.
About Author
