Tunisia likely to default next year unless action is taken, says Morgan Stanley
Tunisia is careening towards a default if it doesn’t course-correct its finances, strategists at Morgan Stanley warned yesterday, according to Reuters. The country is currently in talks with the IMF over financial assistance and a package of economic reforms, but unless this bears fruit the government will likely go into default next year, they said. Ratings agency Fitch downgraded the country’s sovereign debt deeper into junk territory last week, assigning it a B- rating.
Salameh charged: Lebanon has charged central bank governor Riad Salameh and his brother with money laundering and embezzling public funds, a judicial official told Bloomberg yesterday.
US anti missile batteries heading to Saudi Arabia amid Houthi attacks: The US has shipped a “significant” number of Patriot anti missile batteries to Saudi Arabia over the past month as the country tries to fend off drone and rocket attacks from Houthi rebels in Yemen, according to the Wall Street Journal.
Plane crash in China: A China East Airlines Boeing 737 jet carrying 132 people crashed in southern China yesterday, Reuters reported. There were no immediate signs of survivors.