{"id":469945,"date":"2021-02-24T14:05:09","date_gmt":"2021-02-24T14:05:09","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=469945"},"modified":"2021-02-24T14:05:09","modified_gmt":"2021-02-24T14:05:09","slug":"rating-moodys-downgrades-tunisias-rating-to-b3","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/02\/24\/rating-moodys-downgrades-tunisias-rating-to-b3\/","title":{"rendered":"Rating: Moody&#8217;s downgrades Tunisia&#8217;s rating to B3"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p><strong>The rating agency Moody&#8217;s downgraded, on February 23, 2021, Tunisia&#8217;s sovereign rating from B2 to B3, while maintaining the outlook for this rating to &#8220;negative&#8221;, according to a press release from the Central Bank of Tunisia (BCT) .<\/strong><\/p>\n<p>&#8220;According to Moody&#8217;s, this decision is mainly motivated by its fears about Tunisia&#8217;s ability to continue the reform process mainly related to fiscal consolidation and public sector restructuring,&#8221; officials said. &#8216;Issuing institute. The rating agency argues that Tunisia&#8217;s institutional and political context, currently marked by strong social pressures and parliamentary fragmentation, inhibits the Tunisian government from making adjustment decisions relating to major budget reforms and public enterprises.<\/p>\n<p>Moody&#8217;s also explains that his decision is based on the substantial economic and budgetary impact of the Covid pandemic, raising the debt burden to high levels and increasing its sensitivity to shocks.<\/p>\n<p>So, according to Moody\u2019s, although the comfortable level of international reserves has helped manage external pressures well, it does not exclude the high risk of refinancing.<\/p>\n<p>As for the negative outlook, Moody&#8217;s believes that they are reflected in the uncertainty as to the ability of the Tunisian government to ensure continued access to official external sources of financing or to international financial markets, at affordable conditions in order to to meet its growing financing needs, taking into account the delays in the implementation of a new program with the IMF.<\/p>\n<p>They also reflect the lack of a national consensus on major reforms, which is likely to impact the effectiveness of fiscal policy and the ability to reverse the upward trajectory of debt.<\/p>\n<p>The negative outlook also indicates that Moody\u2019s will monitor developments in the financing of the budget and the progress of the implementation of structural reforms.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The rating agency Moody&#8217;s downgraded, on February 23, 2021, Tunisia&#8217;s sovereign rating from B2 to B3, while maintaining the outlook for this rating to &#8220;negative&#8221;, according to a press release from the Central Bank of Tunisia (BCT) . &#8220;According to Moody&#8217;s, this decision is mainly motivated by its fears about Tunisia&#8217;s ability to continue the<\/p>\n","protected":false},"author":536282,"featured_media":469946,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12040,12046],"tags":[17335,17337,4000,17342,17332,17344,17339,17343,17336,17327,17329,17328,17334,17333,17340,17338,14449,17341,17331,17330,17345],"class_list":{"0":"post-469945","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-international-institutions","8":"category-leaders-en","9":"tag-actuellement-marque-par-de-fortes-pressions-sociales-et-une-fragmentation-parlementaire","10":"tag-aussi","11":"tag-b3","12":"tag-bien-que-le-niveau-confortable-des-reserves-internationales-ait-aide-a-bien-gerer-les-pressions-exterieures","13":"tag-cette-decision-est-essentiellement-motivee","14":"tag-downgrades","15":"tag-economique-et-budgetaire-de-la-pandemie-de-la-covid","16":"tag-il-nexclut-pas-le-risque-eleve-de-refinancement-pour-ce-qui-est-des-perspectives-negatives","17":"tag-inhibe-la-prise-par-le-gouvernement-tunisien-de-decisions-dajustement-relatives-aux-grandes-reformes-budgetaires-et-aux-entreprises-publiques-moodys-explique","18":"tag-lagence-de-notation-moodys-a-degrade","19":"tag-la-notation-souveraine-de-la-tunisie-de-b2-a-b3","20":"tag-le-23-fevrier-2021","21":"tag-ont-fait-savoir-les-responsables-de-linstitut-demission-lagence-de-notation-avance-que-le-contexte-institutionnel-et-politique-de-la-tunisie","22":"tag-par-ses-craintes-quant-a-la-capacite-de-la-tunisie-a-poursuivre-le-processus-de-reformes-ayant-trait-essentiellement-a-lassainissement-budgetaire-et-a-la-restructuration-du-secteur-public","23":"tag-portant-le-fardeau-de-la-dette-a-des-niveaux-eleves-et-augmentant-sa-sensibilite-aux-chocs-aussi","24":"tag-que-sa-decision-sappuie-sur-limpact-substantiel","25":"tag-rating","26":"tag-selon-toujours-moodys","27":"tag-selon-un-communique-de-la-banque-centrale-de-tunisie-bct-selon-moodys","28":"tag-tout-en-maintenant-les-perspectives-de-cette-notation-a-negatives","29":"tag-tunisias-rating","30":"post_format-post-format-aside","31":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.4) - 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Pour ce qui est des perspectives n\u00e9gatives","inhibe la prise par le Gouvernement tunisien de d\u00e9cisions d\u2019ajustement relatives aux grandes r\u00e9formes budg\u00e9taires et aux entreprises publiques. Moody\u2019s explique","L\u2019agence de notation Moody\u2019s a d\u00e9grad\u00e9","la notation souveraine de la Tunisie de B2 \u00e0 B3","le 23 f\u00e9vrier 2021","ont fait savoir les responsables de l\u2019Institut d\u2019\u00e9mission. L\u2019agence de notation avance que le contexte institutionnel et politique de la Tunisie","par ses craintes quant \u00e0 la capacit\u00e9 de la Tunisie \u00e0 poursuivre le processus de r\u00e9formes ayant trait essentiellement \u00e0 l\u2019assainissement budg\u00e9taire et \u00e0 la restructuration du secteur public \u00bb","portant le fardeau de la dette \u00e0 des niveaux \u00e9lev\u00e9s et augmentant sa sensibilit\u00e9 aux chocs. 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