Tag: business

The Ministry of Trade announced it would put forth a work charter and national promotional program towards Libya and sub-Saharan Africa during the coming days. The news came during the Tunisian Minister of Trade and Export Development, Kalthoum Ben Rajab’s Friday announcement of the formation of the Tunisia Export Team, as she supervised a working session to follow up the progress of its events. According to a statement by the Tunisian Ministry of Trade, the tasks of the Tunisia Export Team were defined, and the work charter to be adhered…

Following its recent debut in Tunisia with the launch of two properties, Deutsche Hospitality is continuing to pursue its robust growth in North Africa with the opening of Steigenberger Hotel Palace Marhaba. Expected to open in November, the new address will offer 371 rooms and suites as well as six restaurants and bars along with a thalassotherapy centre. The company will operate the hotel under a management agreement with owners, Tunisiabased Marhaba Company. Commenting on the new addition, Puneet Chhatwal, CEO, Deutsche Hospitality, stated, “[…] After a few months in…

Morocco and Tunisia are listed in a group of five African countries that have first pledged reforms under the Compact with Africa Initiative, a Germany’s flagship G20-Africa Partnership project aiming to improve economic conditions across the continent. The three other countries having registered their interest with the G20 are Côte d’Ivoire, Rwanda and Senegal. More countries will likely follow suit. The initiative was launched following a meeting between Merkel and African leaders at the G20-Africa Partnership, held as part of Germany’s presidency of the G20 powerful economies, which will organize…

The Tunisians complain, but seeing the bread that is wasted throughout the year, the food poured into the garbage during the month of Ramadan and the tons of food that the restaurants and the supermarkets throw out daily, we may say that the country was not hungry, far from it. Even if it is undeniable that the crisis is raging, especially in recent years and that all this food waste is the tree that hides the forest. The Strategic Review on Food and Nutrition Security in Tunisia, prepared by the…

‘Premature’ to discuss full liberalization of dinar, PM says IMF board signed off on release of $314 million loan tranche Tunisian Prime Minister Yousef El-Shahed is targeting the foreign-currency black market as his government bids to boost state coffers and promote growth, after the slumping economy triggered some of the biggest protests since the Arab Spring. The government plans to allow Tunisians to hold foreign currency in their bank accounts to encourage transactions to come though official channels rather than the black market, Shahed said in an interview in Tunis.…

The latest figures from the Ministry of Tourism contain a little surprise, a good one: The Chinese are fond of Tunisia. The number of Chinese visitors has hit a record level of 7,000 from January 1 to May 30, 2017, i.e. an increase of 395%. Not too bad on the side of the so-called traditional markets, where the improvement is confirmed, according to the Ministry of Tourism. At the same time, the French are more numerous than last year from January 1 to May 30, 2017, with more than 44.9%.…

The World Bank on Tuesday approved a $500 million loan to support Tunisia’s budget, a government official for the North African country said on Tuesday. The funding followed the release by the International Monetary Fund of a delayed $320-million tranche of Tunisia’s IMF loan, after the government agreed to speed up economic reforms. Praised as a model of democratic transition following its 2011 uprising to oust autocrat leader Zine El-Abidine Ben Ali, Tunisia has so far mostly failed to deliver on planned economic reforms to help create jobs and cut…

IMF authorized the disbursement of another $314.4 million to Tunisia under its existing loan agreement with the international lender. The Executive Board of the International Monetary Fund (IMF) authorized the disbursement of another $314.4 million to Tunisia under its existing loan agreement with the international lender, according to an IMF statement. “On June 12, 2017, the Executive Board of the International Monetary Fund (IMF) completed the first review of Tunisia’s economic program supported by an arrangement under the Extended Fund Facility,” the IMF said in a statement on Monday. The IMF explained the completion of the review allows the authorities to draw $314.4 million,…

The government’s reform program supported by the EFF aims at reducing the fiscal deficit to stabilize public debt below 70 percent of GDP by 2020 while raising investment and social spending. Monetary tightening and greater exchange rate flexibility will help contain inflation, improve competitiveness, and preserve international reserves. To achieve a growth-friendly and socially-conscious fiscal consolidation, it will be critical to implement the 2018 tax package and the new Large Taxpayers Unit, which will both increase tax fairness. On June 12, 2017, the Executive Board of the International Monetary Fund…