January 31, 2020 / 9:12 PM / 23 days ago

Tunisian banks lend government about $500 mln

TUNIS, Jan 31 (Reuters) - Tunisian banks agreed on Friday to lend the government 455 million euros ($504 mln), the government said, as it struggles to borrow about $4.3 billion this year.

The North Africa country has awaited the installation of a new government since elections last October and political parties failed to reach an agreement.

Prime Minister designate Elyes Fakhfakh, proposed this month by President Kais Saied, hopes to form a coalition government next week.

Tunisia needs about $4.3 billion of loans this year including $1.3 billion from the local market.

The finance ministry said that the loan will help to stabilize the Tunisian currency and aimed to finance the budget. (Reporting By Tarek Amara; editing by Grant McCool)

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