Tunis: The new measures in the new foreign exchange law, once approved by the Assembly of People's Representatives (ARP), will increase the demand for foreign currency to open accounts on platforms or to carry out export operations, said economic expert and financial market specialist Moez Hadidane.
The move will have a positive impact in the medium term, according to the expert.
"These investments will open up prospects for Tunisian companies wishing to invest abroad, as well as for young people, which will have an impact on the demand for foreign currency," Hdidane explained in a video interview with TAP news agency.
He added that these foreign currency resources will generate foreign currency profits, which (profits) will then be deposited in accounts with an authorised intermediary, as required by law, leading to a rise in foreign currency reserves.
He stressed that the new law will generate inflows and outflows of foreign currency in the foreign exchange market, where movements are currently limited.
He considered that the new law will allow foreign investors unlimited freedom to purchase bonds issued by the state or other companies, pointing out that currently the purchase operation is limited to 20% of annual issues.
The expert said the draft foreign exchange law will enable foreign investors to raise funds, which will consequently encourage them to acquire debt securities by allowing flexibility in the exit and re-export of foreign currency.
For Hadidane, the problem of foreign investment is related to the business climate, especially the exchange rate of the dinar, suggesting the introduction of measures to guarantee the stability of the national currency as an incentive for investment.
Source: Agence Tunis Afrique Presse