the financial U.S hands embraces our country

The US goverment would provide a loan guarantee to enable the tunisian Goverment to access significant market financing at affordable rates and favourable maturities with the backing of a U.S guarantee of principal and ineterst (up to 100 %), the US Treasury said on friday.

The Ceremony took place at the World Bank immediately following the meeting of Finance ministers of the Deauville Partnership with Arab Countries in transition.

"I'm pleased to sign this declaration of intent with Finance Ministers of Houcine Dimassi", said U.S Treasury Secretary Timothy Geithner.

"Last October, President Obama made clear the Uniited States' commitment to supporting Tunisia's historic transformation. This loan guarantee will be pillar of that support, helping Tunisia achieve key development goals and advancing its economic transition"

The support would consist of the U.S guarantee of tunisian Goverment-issued debt (or of bank loans made to the goverment of Tunisia)

This guarantee will significantly reduce the tunisian Goverment's borrowing costs at a time when market access has become more expensive for many emerging market countries

In the weeks ahead, both goverments intend to make pregress on a loan guarantee agreement that would allow Tunisia to move forward with a debt issuance.

-Amal Derbéli-

Posted in: Tunisia