Tunisia’s central bank has tightened rules on financing imports of non-essential goods as the North African country struggles to protect its foreign currency reserves amid rising costs linked to the war in the Middle East.
The Central Bank of Tunisia (BCT) said in a circular issued on March 26 that banks and financial intermediaries may only provide import financing for products deemed non-priority if importers deposit funds covering the full value of the goods. The measures take effect immediately, regardless of payment method, including documentary credits, bank transfers, bills of exchange, loans, advances, or bank guarantees.
The list of non-priority goods includes passenger vehicles, clothing, cosmetics, alcoholic beverages, household appliances, fruit, stationery, and toys. Banks are required to verify the classification of imported products before processing transactions.
The BCT said the rules do not apply to imports under public contracts signed by the state, public enterprises, and local authorities. Industrial companies may also be exempt if they provide technical certification from the Ministry of Industry, Mines and Energy confirming the imports are directly linked to production needs.
Authorities said the measures aim to curb the country’s trade deficit and preserve foreign reserves in a context of higher global commodity prices since the outbreak of the conflict in Iran. Tunisia’s reserves covered 106 days of imports as of March 26, 2026, according to the central bank.
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Tunisia relies heavily on imports of energy, machinery, equipment, and food. The country’s trade deficit widened to 21.8 billion dinars (approximately $7.45 billion) in 2025, up from 18.92 billion dinars in 2024, data from the National Institute of Statistics (INS) show. Rising global energy and commodity costs linked to Middle East tensions have increased pressure on Tunisia’s balance of payments.
“The aim of these measures is to ensure that our foreign currency reserves are used for priority goods that support the country’s production and essential needs,” a BCT official said. “By requiring importers to fund non-priority imports themselves, we hope to reduce speculative or non-essential demand and safeguard reserves.”
The restrictions come as several countries in the region adjust trade and financial policies in response to the conflict in the Middle East, which has disrupted shipping routes and contributed to volatility in oil and commodity prices.
Analysts say the move could affect Tunisian consumers, particularly in sectors such as retail and automobile sales, but stress that it is part of broader macroeconomic measures to maintain currency stability. Banks and importers are expected to adjust operations to comply with the new rules, which may slow the pace of non-essential imports in the short term.
The BCT also emphasized that the restrictions are temporary and focused on managing risks to the country’s external accounts, rather than limiting industrial or essential imports. Officials are reportedly monitoring the situation closely and may adjust rules as conditions evolve.
Tunisia has faced persistent economic challenges in recent years, including low growth, high unemployment, and structural fiscal pressures. The new import financing rules highlight the government’s ongoing efforts to balance economic recovery with financial stability amid global uncertainty.
