Sunday 24 November 2013

UPDATE 2-Qatar bank grants Tunisia $500 mln to support currency reserve | Reuters

UPDATE 2-Qatar bank grants Tunisia $500 mln to support currency reserve | Reuters:

"* Qatar deposit to help stabilize economy, reserves

* Ruling Islamists trying to end political crisis

* Tunisia's lenders pushing for reforms to cut deficit (Adds quote and more economic details)

By Tarek Amara

TUNIS Nov 23 (Reuters) - Qatar National Bank, part owned by the Gulf state's sovereign wealth fund, has given Tunisia a $500 million deposit to support its foreign currency reserves, a senior official in Tunisia's central bank said on Saturday.

The deposit was made as Tunisia's Islamist-led government faces pressure from lenders such as the World Bank and the International Monetary Fund to make reforms to trim its budget deficit and end a political crisis.

"Qatar National Bank gives a deposit of $500 to the central bank, which supports foreign currency reserves .. it is a shot of oxygen for the economy," the official told Reuters, asking not to be identified because he was not authorised to speak to the media on the matter."

'via Blog this'

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