{"id":12703,"date":"2023-01-04T17:10:19","date_gmt":"2023-01-04T16:10:19","guid":{"rendered":"https:\/\/thedailyleaks.com\/?p=12703"},"modified":"2023-01-04T17:13:06","modified_gmt":"2023-01-04T16:13:06","slug":"tunisian-cenbank-warns-of-consequences-if-inflation-rockets","status":"publish","type":"post","link":"https:\/\/thedailyleaks.com\/tunisian-cenbank-warns-of-consequences-if-inflation-rockets\/","title":{"rendered":"Tunisian cenbank warns of consequences if inflation rockets"},"content":{"rendered":"<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" data-testid=\"paragraph-0\">Tunisia&#8217;s central bank governor warned on Wednesday inflation could spiral out of control if it did not raise interest rates, a day after government criticism of a 75-basis-point increase to 8% last week.<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" data-testid=\"paragraph-1\">Economy Minister Samir Saeed said on Tuesday the hike would have negative repercussions for small and medium companies as the government contends with Tunisia&#8217;s\u00a0<a class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" href=\"https:\/\/www.reuters.com\/world\/africa\/strike-over-pay-paralyses-transport-tunisian-capital-2023-01-02\/\" data-testid=\"Link\">worst economic crisis<\/a>.<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" data-testid=\"paragraph-2\">&#8220;I understand the central bank&#8217;s keenness to combat inflation, but I would have preferred that the hike not exceed 25 basis points,&#8221; he told reporters.<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" data-testid=\"paragraph-3\">But Abassi told a news conference on Wednesday that Tunisia had few tools to fight inflation. &#8220;Inflation rates may go out of control if the key interest rate is not raised,&#8221; he said.<\/p>\n<p data-testid=\"paragraph-3\"><strong>ALSO READ:\u00a0<a href=\"https:\/\/thedailyleaks.com\/obasanjos-govt-corrupt-attacks-leaders-out-of-frustration-presidency-replies\/\">Obasanjo\u2019s govt corrupt, attacks leaders out of frustration, Presidency replies<\/a><\/strong><\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" data-testid=\"paragraph-4\">Abassi said inflation in the North African country was expected to average 11% in 2023, up from 8.3% in 2022, when two interest rate hikes were made.<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" data-testid=\"paragraph-5\">&#8220;The situation will be difficult if Tunisia does not reach a deal with the International Monetary Fund.&#8221;<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" data-testid=\"paragraph-6\">Tunisia is seeking a $1.9 billion loan from the IMF in exchange for unpopular reforms including spending cuts, the restructuring of public companies and reductions to energy and food subsidies, <a href=\"https:\/\/www.reuters.com\/world\/africa\/tunisias-cbank-governor-says-inflation-average-11-2023-up-83-2022-2023-01-04\/\">Reuters<\/a> said.<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body__element__2p5pI\" data-testid=\"paragraph-7\">Labour unrest has increased pressure on the government of President Saied, who faces growing opposition 17 months after seizing executive powers in a move his foes described as a coup.<\/p>\n<p data-testid=\"paragraph-2\">\n<p data-testid=\"paragraph-2\">\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>Tunisia&#8217;s central bank governor warned on Wednesday inflation could spiral out of control if it did not raise interest rates, a day after government criticism of a 75-basis-point increase to 8% last week. Economy Minister <a class=\"mh-excerpt-more\" href=\"https:\/\/thedailyleaks.com\/tunisian-cenbank-warns-of-consequences-if-inflation-rockets\/\" title=\"Tunisian cenbank warns of consequences if inflation rockets\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":12704,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,3,2],"tags":[],"coauthors":[25],"class_list":{"0":"post-12703","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-latest-news","9":"category-top-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tunisian cenbank warns of consequences if inflation rockets - The Daily Leaks<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thedailyleaks.com\/tunisian-cenbank-warns-of-consequences-if-inflation-rockets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tunisian cenbank warns of consequences if inflation rockets - The Daily Leaks\" \/>\n<meta property=\"og:description\" content=\"Tunisia&#8217;s central bank governor warned on Wednesday inflation could spiral out of control if it did not raise interest rates, a day after government criticism of a 75-basis-point increase to 8% last week. 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