Tunisia successfully settled a major international bond repayment of 700 million euros in July 2026, meeting its external debt obligation on schedule according to confirmation from the Central Bank of Tunisia. The redemption of the 2019 international market loan marks a critical milestone in public debt management as the country works to navigate external financial pressures and maintain economic stability.
Following the debt settlement, Tunisia’s net foreign exchange reserves stood at 23,4 milliards de dinars as of July 28, 2026, providing an import coverage of 92 days, according to data released by the central bank. The transaction triggered a mechanical reduction in foreign assets by roughly 2,5 milliards de dinars, shifting import coverage down from 101 days earlier in the month when reserves sat near 24,5 milliards de dinars, or 97 days of imports.
Managing External Debt and Foreign Reserves
The 700 million euro maturity ranked among the heaviest foreign currency outflows scheduled for the Tunisian economy in 2026. Central bank officials emphasize that the successful payout demonstrates the nation’s capacity to honor international financial commitments despite severe strains on external balances and ongoing public finance pressures.
To offset reserve depletion, monetary authorities are prioritizing structural measures to boost foreign currency inflows and trim the country’s energy deficit. Hydrocarbon imports remain a heavy drain on foreign reserves, making domestic energy management a central pillar of fiscal recovery. Meanwhile, the country continues to rely on core foreign exchange generators, including tourism receipts and remittances from Tunisians living abroad. Tourism revenues reached 3,35 milliards de dinars at the end of June 2026, while expatriate transfers hit 4,4 milliards de dinars by July 3, 2026.
Strategic Shift Away from New International Bonds
Unlike previous years, the Tunisian government has not announced a comparable new international bond issuance to replace the July maturity. Ministry of Finance strategies focus instead on managing existing liabilities, cultivating internal foreign exchange resources, and securing external funding under sustainable conditions.
While clearing the 700 million euro hurdle offers a reassuring signal to foreign creditors, maintaining an adequate reserve cushion remains a persistent challenge. Policymakers must balance the ongoing need to finance essential imports with the strict management of public debt as foreign currency demands remain elevated across the domestic market.
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