Tunisian foreign reserves fall to 70 days worth of imports

PHOTO

TUNIS - Tunisia's foreign currency reserves have dropped to levels worth just 70 days of imports, central bank figures showed on Thursday.

Reserves fell to 10.742 billion Tunisian dinars ($3.94 billion) by Thursday, enough to cover 70 days of imports, compared with 101 days in the same period a year earlier, Tunisia’s central bank said on its website.

Analysts says the fall of foreign currency reserves is a potential threat for debt payments and to imports of basic food and energy imports.

Last year, Tunisia imposed restrictions on importing some goods to curb its widening trade deficit and protect foreign reserves.

Tourism revenues recently improved, with European travellers returning three years after two major militant attacks on tourists. ($1 = 2.7230 Tunisian dinars)

(Reporting by Mohamed Argoubi, writing by Ulf Laessing, editing by Larry King)