Foreign reserves at 22.7 billion dinars after Tunisia clears the year's heaviest external repayment

Central bank indicators put net foreign assets at 22.7 billion dinars on 20 July, roughly 90 days of imports, 487 million dinars lower than a year earlier and eleven days weaker in import cover. The level holds after the state settled a 740-million-euro external maturity, about 2.5 billion dinars, in mid-July. Tourism receipts reached 3.681 billion dinars, up 158 million, and remittances from Tunisians abroad passed 4.7 billion, up 230 million: the two flows are effectively carrying the entire cushion. With no IMF programme in place, hard-currency earnings and domestic borrowing are the whole of Tunisia's financing story.

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