World Economy

Tunisia Wins US Loan Guarantees

Tunisia Wins US Loan GuaranteesTunisia Wins US Loan Guarantees

Tunisia has reached a deal with the United States for $500 million in loan guarantees to boost the North African country’s struggling economy, AP reported. Tunisian Finance Minister Slim Chaker signed the deal Friday with US Ambassador Daniel Rubinstein. It will allow Tunisia to borrow at interest rates of 2% instead of 6 or 7%, Chaker told reporters. It’s the third such accord with the US in recent years and comes after meetings between US President Barack Obama and Tunisian President Beji Caid Essebsi aimed at encouraging economic reforms and investment in the North African state.