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UPDATE 1-Tunisia to get $250 million in loan guarantees from Japan
April 8, 2014 / 4:00 PM / 4 years ago

UPDATE 1-Tunisia to get $250 million in loan guarantees from Japan

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TUNIS, April 8 (Reuters) - Tunisia will get $250 million worth of loan guarantees from Japan before the summer, the country’s finance minister said on Tuesday.

Japan is the second country to back Tunisia’s loans after the United States said last week it would provide a new loan guarantee worth about $500 million. The North African country is seeking to plug huge deficits following its 2011 uprising.

Finance Minister Hakim Ben Hammouda declined to give further details on whether the guarantees were to be used for bond sales or to back other loans from international lenders.

The loan guarantees come more than three years after street protests drove longtime President Zine al-Abidine Ben Ali from power in 2011, sparking a wave of similar uprisings across North Africa and the Middle East.

Tunisia plans to issue around $1.8 billion in new foreign bonds, including $500 million in Islamic bonds. (Reporting by Tarek Amara; Editing by Sonya Hepinstall)

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