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Expatriates’ remittances boost Tunisia’s foreign exchange

Expatriates’ Remittances

Expatriates’ remittances prevent the collapse of the national currency and improve cash reserves. They rose 11.2% in March to reach 1,427 million dinars, compared to 1,298 million in March 2020. Despite COVID-19 repercussions, Tunisians continue to supply the country with hard currency

The tourism sector, the most important source of foreign exchange, was severely affected by the pandemic as its revenues fell by 65% last year.

The net assets of the Central Bank in hard currency equals 21.8 billion dinars. The Central Bank seeks to come up with a plan to attract more of the Tunisians’ money abroad

Will Tunisian expatriates’ remittances continue to be an important source amid the financial difficulties?

Politics

President Kais Saied’s decision to suspend parliament and dismiss the prime minister may reduce western partners’ willingness to support Tunisia, the US credit rating...

Finance

The volume of remittances of Tunisian expatriates has increased by more than 18%, showing the real the size of the new expatriates’ contribution to...

special

The Tunisian General Labor Union (UGTT) has accused the government of Hisham Mchichi of targeting the Tunisian people, warning it against implementing any commitments with...

special

The Central Bank of Tunisia has announced it will continue making efforts to maintain the financial and economic balance of the country. The bank...