Affirming of Tunisia's ratings at "B +" is message to government and international financial institutions (H. Ben Hammouda) | Tunisia News Gazette

Affirming of Tunisia’s ratings at “B +” is message to government and international financial institutions (H. Ben Hammouda)

The decision taken by Fitch Ratings which has confirmed Tunisia’s long-term foreign currency default issuer ratings at B+ with stable outlook is a message to the government and the international financial institutions, economic expert and former finance minister Hakim Ben Hamouda said on Sunday.

“This is to affirm the importance of relations and agreements between the Tunisian government and these structures that represent the guarantor of financing the national economy,” he pointed out.

In a statement to TAP, Ben Hamouda said the report published by Fitch Ratings Friday afternoon, raises an important issue, namely that the country’s financial balances are closely linked to its relations with international financial bodies.

He further indicated that the rating agency had downgraded the sovereign rating of Tunisia last February, while this time; it confirms its long-term foreign currency default issuer ratings, with stable outlook.

He explained this position by improved security situation on the one hand and the economic situation, on the other hand.

The expert also recalled that in addition to these relatively positive developments, the report by Fitch Ratings mentioned the risks that the country may face in the coming months, particularly those related to the political and security fields.

The political aspect concerns the lack of stability and the vulnerability of political institutions.

Regarding the security aspect, the report mentions the security threats for the country despite the improvement in the security situation compared to previous years.

Ben Hammouda describes the agency’s position as a “waiting position”, saying that the rating agency is reaffirming its decision taken in February regarding the downgrading of Tunisia’s sovereign rating to B+ while awaiting the development of economic and security situation in the coming months.

Source: TAP News Agency

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