President Kais Saied has called for the revival of Tunisia's phosphate industry, suggesting he will seek alternative sources of revenue that would allow the country to do without a foreign bailout. "Our gold is underground while the country is facing a difficult financial situation," Saied told a meeting Wednesday night of the National Security Council, referring to phosphate reserves. Saied has previously called for a revival of phosphate production, one of the North African country's few natural resources often used for agricultural fertiliser. Gafsa Phosphate Company (CPG), a former flagship of the Tunisian economy, has seen its production collapse since the 2011 revolution due to a lack of investment and bouts of social unrest. "Regarding the IMF, foreign diktats that will lead to more poverty are unacceptable," Saied told reporters on April 6.

Source: The North Africa Journal April 27, 2023 22:49 UTC