Tunisia sold a €700mn seven-year bond at an interest rate of 6.37% to international investors, the country’s finance ministry announced on 12 July. The ministry said 182 investors offered a total of €2.2bn. This comes on top of a €500mn bond sold in October at the same rate. The high interest rate is indicative of Tunisia's poor credit rating, with major ratings agencies placing the North African state firmly in junk territory.

Tunisia’s cash-strapped economy last month secured just under $750mn in loans from the IMF, EU and World Bank (MEES, 28 June). Government officials estimate the country’s external financing needs for 2019 at around $2.5bn. (CONTINUED - 140 WORDS)