Tue. Jun 25th, 2024

Foodstuff shortages worsen in cash-strapped Tunisia

Tunisia is experiencing worsening shortages due to a financial problem that has seen importers unable to pay their orders.

Foodstuff shortages worsen in cash-strapped Tunisia

The list of essentials has grown to include petrol, diesel and sugar, as well as coffee, flour, and fruits and veggies, just to name a few.

Many factories producing yoghurt, soft drinks, and biscuits have been affected by the lack of sugar in the country. This has led to job losses that will continue to rise as the country struggles to improve its financial position.

The government has blamed external factors, including local speculators and imported inflation due to the Russian-Ukrainian conflict.

Eles Ben ammeur, a Tunisian trade official, also mentioned the cancellation a 78,000 ton sugar order that was due for delivery to Tunisia.

For Tunisie Numerique, and other economists, however, the real reason for the growing list of shortages can be found in the absence of liquidity among importers.

Credit rating agencies rank Tunisia’s default risk as high, sending a discomforting message to suppliers.

Morgan Stanley warned earlier this year that Tunisia was headed for default unless a financing deal is made with the IMF.

Without an IMF deal, Morgan Stanley projects the debt pile will continue to balloon until it exceeds the size of the country’s economic output in 2025.

Source: north africa post

By Chala Dandessa

I am Lecturer, Researcher and Freelancer. I am the founder and Editor at ETHIOPIANS TODAY website. If you have any comment use caalaadd2@gmail.com as email contact. Additionally you can contact us through the contact page of www.ethiopianstoday.com.

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