Fitch Ratings Upgrades Tunisia's Credit Rating to CCC+

People walk out of the Central Bank in Tunis, Tunisia, October 4, 2017. REUTERS/Zoubeir Souissi/File Photo
People walk out of the Central Bank in Tunis, Tunisia, October 4, 2017. REUTERS/Zoubeir Souissi/File Photo
TT

Fitch Ratings Upgrades Tunisia's Credit Rating to CCC+

People walk out of the Central Bank in Tunis, Tunisia, October 4, 2017. REUTERS/Zoubeir Souissi/File Photo
People walk out of the Central Bank in Tunis, Tunisia, October 4, 2017. REUTERS/Zoubeir Souissi/File Photo

Fitch Ratings has upgraded Tunisia’s credit rating to CCC+, reflecting growing confidence in the government’s ability to meet its significant financing needs.

Fitch noted Monday that continued external support and a decrease in foreign debt repayments would enable Tunisia to balance its net external financing by 2026.

“We believe that the local banking sector can play a key role in meeting Tunisia’s financing needs, with state-owned banks likely to take on a larger share of the burden due to the cautious approach adopted by some private banks,” the agency added.



Saudi Arabia, Oman Sign MoU on Cooperation in Economic Planning

Saudi Arabia, Oman Sign MoU on Cooperation in Economic Planning
TT

Saudi Arabia, Oman Sign MoU on Cooperation in Economic Planning

Saudi Arabia, Oman Sign MoU on Cooperation in Economic Planning

The Saudi Ministry of Economy and Planning and Oman's Ministry of Economy signed on Thursday a memorandum of understanding (MoU) focusing on cooperation in medium- and long-term economic planning, economic studies and modeling, economic policies and plans, and green and circular economies.
The MoU aims to implement cooperation through the exchange of information, expertise, studies, and visits between experts and specialists, as well as the organization of conferences, seminars, and workshops. The agreement will remain in effect for five years.
Saudi Minister of Economy and Planning Faisal Alibrahim and Omani Minister of Economy Dr. Saeed bin Mohammed Al-Saqri signed the MoU, which stipulates enhancing cooperation in economy and planning based on mutual interests and in accordance with the regulations and laws in both countries.
Signing the MoU is part of efforts to enhance cooperation among Gulf Cooperation Council (GCC) countries and boost bilateral relations between Saudi Arabia and Oman.