Banque Centrale De Tunisie 5,625% 2024 euro XS1567439689 (2 lettori)

[pietro17elettra]

UPDATE 1-Tunisia uses strategic petroleum stock to meet local demand
29/06/2022 20:09 - RSF
(Adds details)
TUNIS, June 29 (Reuters) - Tunisia is using its strategic safety stock of petroleum products to meet local demand, as the Ukrainian crisis weighs heavily on the country's cash flow, TAP state news agency quoted an official at the energy ministry as saying on Wednesday.

Tunisia's public finances, which officials say is facing its worst crisis, recorded additional losses of nearly $2 billion due to the effects of the war between Ukraine and Russia on grain and energy prices.

"This quite critical situation is a weekly battle especially since the scarcity of petroleum products, the current financial situation of Tunisia and the Ukrainian crisis weigh heavily on the cash flow of the state," said Rachid Ben Daly, the head of hydrocarbons at the energy ministry.

He added that the consumption of petroleum products is about 90,000 barrels per day while the production capacity of the Tunisian Company of refining industries (STIR) is 32,000 barrels per day.

58,000 barrels per day should be covered through imports, he said.


(Reporting By Tarek Amara Editing by Chris Reese and Aurora Ellis)
(([email protected])

 

[pietro17elettra]

Fitch cuts view on global sovereign debt
30/06/2022 18:33 - RSF
By Marc Jones
LONDON, June 30 (Reuters) - Credit rating agency Fitch downgraded its view on sovereign debt on Thursday on concerns about the rise in global borrowing costs and the potential for a flurry of new defaults.

Fitch, which monitors over 100 countries, said the Ukraine-Russia war was stoking problems such as higher inflation, trade disruptions and weaker economies which are all now hurting sovereign credit conditions.

"Rising interest rates are increasing government debt-servicing costs," Fitch's Global Head of Sovereigns, James McCormack, said, cutting the firm's view on the sovereign sector to "neutral" from "improving".

"Most exposed are emerging market (EM) sovereigns, but some highly indebted developed markets are at risk as well, including in the euro zone."
The number of countries seeing their credit ratings cut has begun to rise again this year as the pressures have built.

Most of the governments Fitch covers have either brought in subsidies or cut tax cuts to try to cushion the impact of surging inflation. But that carries costs.

"While modest fiscal deteriorations can be absorbed by the positive effects inflation has on government debt dynamics, such effects depend on the retention of low interest rates, which are now less certain," McCormack said.

While commodity exporters will benefit from higher prices, those who have to import the bulk of their energy or food will suffer.

Gross external funding needs will be highest this year in both nominal terms and relative to foreign-exchange reserves for EM sovereigns that are net importers of commodities, McCormack added.

"They now face tighter global funding conditions, and with a record-high share of sovereigns rated in the ‘B’ category or lower, it is likely there will be additional defaults."
The list of countries either in default or whose financial market bond yields suggest they will be currently stands at a record 17.

Those 17 are Pakistan, Sri Lanka, Zambia, Lebanon, Tunisia, Ghana, Ethiopia, Ukraine, Tajikistan, El Salvador, Suriname, Ecuador, Belize, Argentina, Russia, Belarus and Venezuela.



(Reporting by Marc Jones; Editing by Nick Macfie)
(([email protected]; +44 (0)20 7513 4042; Reuters Messaging: [email protected] Twitter @marcjonesrtrs))


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[pietro17elettra]

Tunisia publishes proposed new constitution
30/06/2022 22:14 - RSF
TUNIS, June 30 (Reuters) - Tunisia's official gazette on Thursday published the text of a proposed new constitution that would give President Kais Saied far more powers and which he will put to a referendum next month.

Saied seized most powers last year, brushing aside the existing 2015 democratic constitution and dismissing the elected parliament to say he would rule by decree while he remakes the political system.



(Reporting by Tarek Amara and Angus McDowall)
(([email protected]; Reuters Messaging: [email protected]))


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[pietro17elettra]

UPDATE 3-Tunisian president takes most powers in proposed constitution
Oggi 00:58 - RSF
(Adds details)
By Tarek Amara and Angus McDowall
TUNIS, June 30 (Reuters) - Tunisia's president published a planned new constitution on Thursday that he will put to a referendum next month, expanding his own powers and limiting the role of parliament in a vote most political parties have already rejected.

Kais Saied has ruled by decree since last summer, when he brushed aside the parliament and the democratic 2014 constitution in a step his foes called a coup, moving towards one-man rule and vowing to remake the political system.

(news)

His intervention last summer has thrust Tunisia into its biggest political crisis since the 2011 revolution that ousted former autocrat Zine al-Abidine Ben Ali and introduced democracy. (news)

Voters will be asked to approve the new constitution in a July 25 referendum for which there is no minimum level of participation.

With most of the political establishment opposed to his moves and urging their supporters to boycott the vote, analysts say the measure is likely to pass, but with only limited public involvement.

None of the major parties, including the Islamist Ennahda which is the biggest in parliament and has played a major role in successive coalition governments since the revolution, issued immediate comment on the draft constitution.

Meanwhile, many Tunisians are far more focused on a growing economic crisis and threats to public finances that have caused salary delays and the risk of shortages of key subsidised goods.

(news)

An online 'consultation' Saied held from January-March in preparation for drafting the constitution received scant attention from Tunisians, with very few taking part.


POWER
The draft constitution published in the official gazette late on Thursday would bring most political power under Saied, give him ultimate authority over the government and judiciary.

Previously, political power was more directly exercised by the parliament, which took the lead role in appointing the government and approving legislation.

Under the new constitution, the government would answer to the president and not to parliament, though the chamber could withdraw confidence from the government with a two-thirds majority.

Saied would be allowed to present draft laws, have sole responsibility for proposing treaties and drafting state budgets, appoint or sack government ministers and appoint judges, the gazette said.

He could serve two terms of five years each, but extend them if he felt there was an imminent danger to the state, and would have the right to dissolve parliament while no clause allows for the removal of a president.

The constitution would allow Saied to continue to rule by decree until the creation of a new parliament through an election expected in December.

It would also create a new 'Council of Regions' as a second chamber of parliament, but it gives few details on how it would be elected or what powers it would have.

Saied, a political independent, has promised a new electoral law. Though he has not yet published it, he has indicated that voters would only choose candidates as individuals, not as members of political parties.

Meanwhile, although Islam will no longer be the state religion, Tunisia will be regarded as part of the wider Islamic nation and the state should work to achieve Islamic goals. The president must be Muslim.

However, Saied has maintained most parts of the 2014 constitution that enumerated rights and liberties, including freedom of speech, the right to organise in unions and the right to peaceful gatherings.

However, judges, police, army and customs officials would not have a right to go on strike. Judges have recently been on strike for weeks in protest at Saied's moves to curtail judicial independence.


(Reporting by Tarek Amara and Angus McDowall, Editing by Rosalba O'Brien, Alistair Bell and Deepa Babington)
(([email protected]; Reuters Messaging: [email protected]))

 

[pietro17elettra]

UPDATE 2-Tunisia president defends proposed constitution amid criticism
05/07/2022 13:26 - RSF
(Adds journalists union statement, paras 7-8)
TUNIS, July 5 (Reuters) - Tunisia's president said on Tuesday his proposed constitution would not restore authoritarian rule, hitting back at criticism from across the political spectrum and urging people to support it in this month's referendum.

Saied, who ousted the elected parliament last summer to rule by decree in a step his foes call a coup, has published a draft of a new constitution that would greatly expand his powers while weakening checks on his actions.

The president's supporters say he is standing up to elite forces whose bungling and corruption have condemned Tunisia to a decade of political paralysis and economic stagnation.

In a letter published online he said there was no danger to Tunisians' rights and freedoms.

"Everyone knows what Tunisia has suffered for decades, especially the last decade. They emptied state coffers. The poor got poorer, the corrupt got richer," Said said, accusing critics of his constitution of "slanders, far from reality".

Most political parties and civil society groups oppose his constitution, saying it was drawn up unilaterally and will lack legitimacy as Tunisians have less than four weeks to decide on it and there is no minimum rate of participation for it to pass.

The main journalists union joined the opponents of the constitution and said statement on Tuesday: "We warn of its danger..it does not respond to the principles of freedom of the press and expression".

Freedom of speech and press has been a key gain for Tunisians following the 2011 revolution that toppled the late President Zine El Abidine Ben Ali.

Even the head of the committee Saied convened to prepare the first draft of his constitution, which he then rewrote, said this weekend that the president's version was "dangerous and paves the way for a disgraceful dictatorial regime".

Sadok Belaid, the committee head, said the version Saied had presented did not resemble the draft the committee had prepared.

(Reporting By Tarek Amara; Editing by Andrew Heavens, Angus McDowall, William Maclean)
(([email protected])

 

[pietro17elettra]

Algeria to reopen land borders with Tunisia on July 15
05/07/2022 20:13 - RSF
July 5 (Reuters) - Algeria will reopen its land borders with Tunisia on July 15, Algerian president Abdelmadjid Tebboune announced on Tuesday.

Millions of Algerians used to spend their vacations in Tunisia. The closure was part of a COVID-19 lockdown.

 

[pietro17elettra]

Tunisia freeze bank accounts of head of Ennahda party Ghannouchi and former PM Jebali
05/07/2022 23:05 - RSF
TUNIS, July 5 (Reuters) - Tunisia's anti-terrorism judge ordered a freeze on bank accounts and financial assets of ten people, including Rached Ghannouchi, head of the Islamist Ennahda Party, and former Prime Minister Hamadi Jebali, a Financial Analysis committee official told Reuters on Tuesday.

He added that the list of people included Moadh Ghanouchi, the son of Rached Ghanouchi, and Ghannouchi's son-in-law, Rafik Abdessalem.

(Reporting By Tarek Amara)
(([email protected])

 

[pietro17elettra]

UPDATE 1-Tunisian opposition leader faces money laundering allegations
06/07/2022 13:54 - RSF
(Adds details, context)
TUNIS, July 6 (Reuters) - Tunisia's main opposition leader Rached Ghannouchi has been summoned by a judge over money laundering allegations, his Ennahda party said on Wednesday, accusing the authorities of targeting him for political reasons.

The July 19 summons is to answer questions about the allegations, which Ennahda say are untrue and a result of "distortion and fabrication".

Reuters could not immediately reach a judiciary spokesperson.

Ghannouchi has emerged as the loudest critic of Kais Saied since the president seized broad powers last year, moved to rule by decree and ousted the elected parliament in which the Ennahda leader is speaker.

Earlier this year, Saied moved to take ultimate authority over the judiciary, replacing the body that guaranteed its independence and sacking dozens of judges.
Ghannouchi's court date is less than a week before Saied holds a referendum on a new constitution that he has written broadly expanding his own powers while limiting checks on his actions, a referendum that Ennahda says it will boycott.

Saied has said his actions were needed to save Tunisia from years of political paralysis and economic stagnation, and that his constitution will uphold people's rights and freedoms.



(Reporting by Tarek Amara; Writing by Angus McDowall; Editing by Edmund Blair, William Maclean)
(([email protected]; Reuters Messaging: [email protected]))

 

[Fra41]

Tunisie - FMI : verdict cette semaine - Kapitalis

La décision du FMI concernant l’issue des négociations avec la Tunisie à propos d’un nouvel accord de prêt sera connue aujourd’hui ou demain.

kapitalis.com

 

[archmax]

Les services du FMI achèvent une mission en Tunisie sur des progrès satisfaisants

Les services du FMI achèvent une mission en Tunisie sur des progrès satisfaisants

www.imf.org