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The country's total debt rose from 17.8% in 2017 to 13.8% in 2018, but this trend is still relatively high, according to the Central Bank of Tunisia in its annual report for 2018.
In the same report, recently published on its website, the bank explained that the increase in these bonds is due in particular to the rise in energy prices, the low exchange rate of the Tunisian dinar compared to major currencies and the worsening of the current account deficit.
Slight decline in external debt
In 2018, the structure of the external debt fell slightly to 24.8%, compared to 27.5% in 2017. The Bank also highlighted the importance of loans obtained by Tunisia in 2018, namely the syndicated loan on the international financial market (October 2018) and loans from the International Bank for Reconstruction and Development. The African Development Bank, the Arab Monetary Fund, and the IMF loan installments under the Extended Loan Facility.
Despite the importance of the volume of external resources mobilized, in 2018, the repayments of external debt service, amounting to 9 million dinars, compared with 6.7 million dinars in 2017, will continue to to have a greater impact.
The contraction of domestic debt
Domestic debt as a share of total economic badets contracted at 7.7% in 2018, after 13.1% in 2017.
The bank attributed this contraction to the simultaneous effect of the slowdown in financing of the financial sector (8.2% vs. 13.6%) and that of the capital markets (4% negative vs. 1.4%).
The state's domestic debt also declined (3% in 2018 vs. 14% in 2017) under the simultaneous effect of the marked slowdown in the state's debt to the banking system (4.3 % versus 16.4%) and its downward trend in the financial market (4.3% negative, 1.2%).
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