Tunisia among major world tourist destinations in post-COVID (FORBES)

Tunisia is among the top 7 countries with the potential to become major tourist destinations in the post-COVID period, FORBES reported on its website. The US magazine said «Rife with picturesque Mediterranean beaches, ancient ruins, and Maghrebi cuisine, Tunisia is shaping up to be the perfect destination for those wishing to experience the vibrant and unique culture of North Africa. Tunisia, which has was able to attract more than 9 million tourists, is among the countries least exposed to the spread of the coronavirus pandemic, although it is close to…

8 MENA startups win Hub71 MENA growth competition

The All Arab MIT Enterprise Forum and Hub71 have announced eight winners for the second edition of the Hub71 MENA growth competition, Emirati.News reports. The winners were selected from a group of semi-finalists of the Arab Startup Competition in the MITEF Startup Competition in the last three sessions (11th, 12th and 13th sessions), the same source said. More than 50 startups across the Middle East and North Africa (MENA) region have applied for the Abu Dhabi-based Hub71 Incentive Program, which includes 50 or 100 percent of subsidized housing, office space,…

WWF North Africa demands transition to green economy

The World Wildlife Fund (WWF) North Africa in Tunisia has urged leaders to implement sustainable recovery plans to transition towards a ”greener, more sustainable” economy which is ”more equal and carbon neutral”. ”Our governors must resist the temptation of saving the unsustainable economy, a socially unjust and polluting economy that is heating our planet, exhausting natural resources and hindering the health and well-being of our people”, WWF said. The organisation stressed the need to move public and private investments from polluting options to sustainable ones. ”Our government must show leadership…

PROCONSULT Tunisia: The refinancing of banks would be close to 20 billion dinars

The research and analysis unit of the PROCONSULT Tunisia consulting firm, which is composed of eminent experts, engineers and former ministers, has just published its April 2020 report on Tunisia’s prospects after COVID. The report takes stock of the situation in Tunisia in April 2020 and tries to anticipate possible developments. It is obvious that any prospecting effort in such circumstances consists of dealing with several interdependent factors that are not controllable but also unpredictable in terms of prospects and impact. Although a lack of solidarity in the international management…

Fitch Downgrades Tunisia to ‘B’; Outlook Stable

Fitch Ratings has downgraded Tunisia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B’ from ‘B+’. The Outlook is Stable, Fitch Ratings reported Tuesday. The downgrade reflects the aggravation in Tunisia’s persistent macroeconomic imbalances and deterioration in external and public debt trajectories due to economic disruptions from the coronavirus pandemic shock. Tunisia’s economy will witness its sharpest contraction on record in 2020 while the current account deficit (CAD) will fail to narrow amid a temporary halt in fiscal consolidation, prompting a further significant rise in net external debt (NXD) and general…

Through its Tunisia jobs program: USAID awards first approved grant to Dasri Sterile

In response to the COVID-19 crisis in Tunisia, the U.S. Agency for International Development (USAID), through its Tunisia Jobs, Opportunities & Business Success (JOBS) program, is providing assistance to private companies on the front lines of the fight against the pandemic. Tunisia JOBS also supports the Caisse des Dépôts et Consignations (CDC) in rapidly deploying financing to companies impacted by the economic crisis. The first approved grant is awarded to Dasri Sterile, a company specialising in the treatment and disposal of hazardous medical waste. The company is located in El…

WB gives Tunisia $35m for medical equipment to fight against COVID-19

The World Bank will grant Tunisia $35 million for the fight against COVID-19 and to support the health ministry. The WB said in a statement that $20 million of the aid package is earmarked to bolster the capacity of the health system in a bid to support Tunisia’s efforts in stemming COVID-19 which has infected 994 people and caused the death of 41 others. The remaining $15 million makes up a previous support credit allocated early last month as part of COVID-19 accelerated mechanism, the bank said. The WB also…

Tunisia Exports 146,000 Tons of Olive Oil Amid COVID-19 Crisis

Tunisia has recorded record growth in revenues from olive oil exports despite the coronavirus crisis according to figures released by the Office National de l’Huille (ONH). Tunisia exported 146,000 tons of olive oil in the first three months of 2020 which generated revenue of around 896 million Tunisian Dinars ($310 million). During the same period in 2019 the country’s exports stood at 80,000 tons worth 740 million TND in revenue ($255 million). President and CEO of ONH Chokri Bayoudh said that although exports had slowed during the coronavirus crisis, the…

“First draft of health protocol for Tunisian tourism has been sent to professionals to be soon validated”, says tourism minister

“The first draft of a sanitary protocol for Tunisian tourism has been sent to the professionals of the sector so that they can bring their proposals. It will soon be discussed between the Ministry of Tourism and Handicrafts and professional structures before being validated,” said Tuesday afternoon, Minister of Tourism and Handicrafts, Mohamed Ali Toumi. Speaking at a webinar on the theme “From Berlin to Tunis: Tourism after COVID19” organized by the Friedrich Naumann Foundation for Freedom in partnership with Tunisia Hospitality Symposium (IHEC), the Minister stressed that “to prepare…

Remittances to MENA in 2020 to fall 19.6% due to COVID-19: WB

Remittances to the Middle East and North Africa (MENA) region are expected to fall 19.6% to $47bn in 2020 following the 2.6% growth achieved in 2019, according to a recent World Bank (WB) report. The report, entitled, “Migration and Development Brief: COVID-19 crisis through a migration lens”, said the decline is the result of the ongoing coronavirus (COVID-19) pandemic and resulting shutdown. The anticipated decline comes on the back of the global slowdown and lower oil prices in Gulf Cooperation Council (GCC) countries, the report said. It added that all…