Foreign Currency Assets of the Central Bank of Tunisia
The Central Bank of Tunisia's foreign currency assets experienced a significant decline in 2025. They stood at 25.1 billion dinars, compared to 27.4 billion dinars in 2024, representing a decrease of 8.2%.
Reasons for the Decline
According to the Bank's financial statements, this development is mainly due to the fact that the net flow deficit of the Treasury remained high. This is largely attributed to difficulties in accessing international financing. In this context, the State mobilized nearly 1.9 billion dinars in external financing. These resources come mainly from the European Investment Bank, the World Bank, and the African Development Bank.
Debt Repayment
The year 2025 was marked by significant repayments of external debt. Tunisia honored the payment of the Eurobond issued in 2015, for an amount exceeding $1 billion. Schedules were also settled under the credits of the International Monetary Fund, as well as with other donors, including Afreximbank. The Central Bank also repaid a deposit of $100 million to the Bank of Algeria.
Mitigating Factors
Despite these significant outflows, certain flows contributed to mitigating the decline in reserves. The improvement in tourism revenue and the increase in transfers from Tunisians living abroad enabled the Central Bank to make net purchases of foreign currencies estimated at 4.7 billion dinars in 2025.
Breakdown of Foreign Currency Assets
As of December 31, foreign currency assets represent 44.5% of the Central Bank's total assets, compared to 50.3% the previous year. Their structure remains dominated by securities (63%), followed by bank deposits (25%).
