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Tunisia's c.bank moves to reassure creditors

The Central Bank of Tunisia says it has enough foreign currency reserves are enough to cover more than four months of import and to 'meet financial and commercial obligations with good value'

Reuters, Thursday 20 Jan 2011
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Tunisia's central bank on Thursday moved to reassure international creditors after a popular revolt ousted its ex-president, saying it held enough foreign currency reserves to meet financial and commercial obligations.

The Central Bank of Tunisia said in a statement that the country's interbank foreign exchange market "continues to operate normally" to ensure international financial and commercial transactions are paid.

The central bank said it held 12.6 billion dinars ($8.8 billion) in foreign currency reserves and this was enough to cover 143 days of import needs.

"This amount is comfortably large for Tunisia to meet financial and commercial obligations with good value, including the reimbursement of international (debt) issues of EU450m that fall on 7 April, 2011, and 15bn yens falling 27 September, 2011," it added.

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