Tunisia Solvency at Risk as President’s Hate Speech Sparks Rage
- African Union, IMF, World Bank have all expressed concern
- IMF support seen critical to Tunisia averting default on debt
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Tunisia’s bond market is showing growing concern about default after President Kais Saied’s remarks about Black migrants sparked mob violence and led to worry that an urgent International Monetary Fund bailout could be delayed.
The North African nation’s bonds have slid deeper into distressed territory and are the biggest losers in emerging markets this month, after Argentina and Bolivia. The cost to insure its debt against default has also risen among the most worldwide, to 1,250 basis points on Friday.