Tunisia: COFACE downgrades country’s rating to high risk

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    The rating of Tunisia has been downgraded from a fairly high risk (B) to high risk (C), according to the “Country and Sector Risk” Barometer developed by the French Insurance Company for Foreign Trade (French: COFACE) for the 1st quarter of 2018.

    In its report which covers 160 countries, COFACE points “a difficult macroeconomic situation with an inflation of 7%, which will impact the consumption of households.

    The situation of public finances and the external position of the country are also worrying. Moreover, the high cost of raw materials is starting to penalize the countries that import them, such as Tunisia “.

    Thus, in this context of growing global demand, the prices of the main commodities are on the rise.

    Regarding oil, COFACE has anticipated that the price of a barrel of Brent will reach $ 65 on average in 2018, hence a positive revaluation of countries that export a lot like Nigeria and a penalty of importing countries such as Tunisia.

    The COFACE country risk scale has 8 assessments ranging from A1, A2, A3, A4, B, C, D, E (A1 being very low risk and E extreme risk).

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