Tunisia repays major foreign debt as Moody's keeps rating stable

Moody's completed its periodic review of Tunisia’s sovereign rating on 24 July 2026 and left the outlook unchanged. The agency highlighted the country’s limited fiscal space, high public debt and structural growth challenges, but noted that external financing needs have eased and that foreign‑exchange reserves remain stable, covering about 3.3 months of imports despite a 38 % rise in energy imports.

The Central Bank of Tunisia confirmed that in July 2026 the state repaid a €700 million international bond on schedule. Net foreign‑exchange assets fell to 23.4 billion dinars, enough to cover 92 days of imports, down from 101 days before the payment. The repayment demonstrates Tunisia’s ability to meet its external obligations while it seeks to strengthen foreign‑exchange inflows, curb the energy‑related deficit and attract further investment.