dette tunisienne 4

Tunisia and its debt: our invasive friends, the creditors

In November 2016, Tunis hosted an international conference, Tunisia 2020. Co-organised by the Tunisian, French and Qatari governments, its ambition was to garner from the “friendly countries” in attendance investment pledges for projects contributing to growth and job creation as well as significant financial support. The problem is that the promised financial support appears never to have been forthcoming, and the Tunisian government has been obliged to go into debt on the financial markets. This situation has prompted several observers to wonder publicly: “Where are Tunisia’s friends?”

Credit Agencies: The arrogance of failure

First of all, the failure of the rating agencies before the subprime crisis is complete and total. That’s an undeniable fact and the huge effort that those agencies are making to restore their credibility will not, in any way, change that fact. And you should not listen to anyone who is telling you otherwise even if that person is Patrick Raleig.