Risk Rating Constrained By Deficits, High External Debt

May 2007 | Economic Analysis

Tunisia maintains its D4 sovereign risk rating, constrained by its still elevated debt-to-GDP ratio, with its total score improving only marginally from 52 points in 2006 to 53 this year. The North African country fares relatively well in terms of the 'Willingness To Pay' component of BMI's sovereign risk ratings, with a score of 32/45, but is brought down by a poorer performance on the 'Ability To Pay' component where it receives 21/55. That said, we remain bullish on Tunisia's general trajectory, given its solid growth track record, its ongoing diversification efforts and active debt management policy. Indeed, last year

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