Tunisia

November 2008 | Ratings Update

Tunisia's short-term political risk rating has risen this month, thanks to an improved score in the social stability category (60.0, up from 57.5). This is due to an improved inflation outlook - CPI came in at 4.7% y-o-y in October, compared with a peak of 6.0% y-o-y in April, and we see it falling to 4.0% by the end of 2008 and 3.0% by end-2009. Given that Tunisia saw several protests over the rising cost of living during 2008, this can only be a good thing. Furthermore, lower food prices will reduce the fiscal burden on the government, which subsidies

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