Tunisian President calls on banks to lower interest rates Reuters

Tunisia (Reuters)-Tunisian President Keith Said called on banks to lower interest rates on Saturday, saying that measures are needed to help improve the country’s social and economic conditions.

Said on Sunday invoked emergency powers to seize control of the government, remove the prime minister and freeze parliament. His enemies called it a coup, and he denied the accusation.

On Saturday, he said that corrupt elements had left the country on the verge of bankruptcy and added in a meeting with the Banking Association, “I urge you to stand with the Tunisian people by lowering interest rates as much as possible”.

Said added: “With our abilities, with the help of friends, we can meet all challenges, but first let us rely on ourselves, we can achieve results that many people can’t imagine.”

Tunisia, whose debt burden rose last year and its economy shrank by 8.8% in real terms, has begun negotiations with the International Monetary Fund for a financial assistance plan.