Financial and Banking News

BUDGETS AND REVENUES

Tunisia Devalues and Garners Resources 

Faced with a mounting economic crisis, the new Tunisian Prime Minister, Mr. Rachid Sfar, announced a supplementary budget on 19 August which aims to find an extra TD201mn ($237mn) revenue and devalued the Tunisian Dinar (TD) by 10%. These measures are designed to counter the effects of a four-fold foreign exchange crisis which result from the loss of oil revenue as a result of the collapse of oil...