© Reuters. FILE PHOTO: Tunisian President Kais Saied takes the oath of office in Tunis, Tunisia, October 23, 2019. REUTERS/Zoubeir Souissi/File Photo
TUNIS (Reuters) – Tunisian President Kais Saied called on banks on Saturday to reduce interest rates, saying the measure was needed to help improve social and economic conditions in the country. Saied invoked emergency powers on Sunday to seize control of government, remove the prime minister and freeze parliament. His foes have called it a coup, an accusation he has denied.. On Saturday, he said corrupt people had left the country on the verge of bankruptcy, adding in a meeting with the Banks Association, “I urge you to stand with the Tunisian people by lowering interest rates as much as possible”.
“We are able to face all challenges, with our capabilities, with help of our friends, but let us rely above all on ourselves, and we can achieve results that many people do not imagine,” Saied added. Tunisia, which has seen its debt burden rise and economy shrink by 8.8% last year in real terms, has started talks with the International Monetary Fund to seek a financial assistance package.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.