EconSource: Tunisia’s currency reserves fall to record low

Follow the latest in economic news and developments about the Arab transition countries. 

Tunisia’s central bank said on its website, foreign currency reserves stood at TND 10.39 billion ($6.50 billion) by April 25, equal to 93 days of import cover, compared with 102 days registered in the same period a year earlier. Tunisia’s trade deficit rose 36 percent in the first quarter of this year compared with the same quarter last year. [Reuters]
The foreign ministers of France and Germany ended an historic joint visit to Tunisia on Friday (April 25th) with pledges of financial aid. The EU is Tunisia’s top economic partner, with commercial exchanges exceeding 80 percent. France and Germany take the lion share of those. [Magharebia]
Libyan Prime Minister Abdullah al-Thinni accused the central bank governor on Monday of obstructing the government and exceeding his powers. Thinni’s criticism of governor Saddek Omar Elkaber also highlights Libya’s dire economic plight as the central bank struggles to curb government spending and protect its reserves from the sharp decline in oil revenues. [Reuters]
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