2023-07-12 07:49:32
Bilel Dernaoui, Managing Director of the Electronic Banking Company of Tunisia
“Electronic payment grew by around 25% in 2022, while the number of financial transactions reached 134 million for the whole year, with an estimated transaction volume of 22 billion dinars. It is expected that the number of transactions will reach 140 million and the volume of transactions, a value of 30 billion dinars. There has been an increase in electronic payment transactions and transactions made by foreign bank cards in Tunisia are estimated at around 2.5 billion dinars, or 10% of the total transaction volume. It is important to develop this approach, by developing a national strategy for electronic payments, in addition to improving the services provided to customers, and reducing the cost of financial transactions. A study is currently in the finalization stage and analyzes all these aspects.
African countries rely more on the electronic wallet, “e-wallet”, while North African countries rely less on this system. The SMT is working on improving the mobile payment service, since 50% of Tunisian banks have adopted this approach. We are also working on the development of new telephone payment services. There is no problem paying bills electronically, noting that payment via “e-wallet“ will replace payment via TPE”.
Mohamed Salah Souilem, former Director General of Monetary Policy at the Central Bank of Tunisia
“Tunisia faces significant financial challenges. Faced with this situation, internal borrowing was the only solution for the State, given the high cost that the country might bear on the international market.
The Treasury and the Ministry of Finance are constantly under pressure to find ways to repay short-term bonds, especially when their maturity coincides with that of long-term bonds.
This year, Tunisia had to deal with important maturities, with a payment of 953 million dinars in April and 438.6 million dinars in June for long and medium term loans. Next October, an issue of 735.8 million dinars will have to be repaid. In addition, the country will also have to repay 500 million euros of foreign debts in the same month, which will put considerable pressure on the country’s liquidity and financial situation.
It is clear that debt service, over the next four years, will be crucial, especially with regard to external debt. This situation might put a heavy burden on public finances and exert strong pressure on the State.
However, investors are showing a willingness to buy short-term bonds, as the risks associated with them are not considered significant despite the high interest rates. The Central Bank has an important role in helping the national economy overcome liquidity problems. However, the latter faces a double challenge. First, the fight once morest inflationary pressures, then supplying the market with liquidity to revive the economy. So far, the Bank has succeeded in maintaining this balance, but the pressure on the State to fulfill its financial obligations remains constant”.
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