Tunisia's President Calls on Banks to Cut Interest Rates

Tunisian President Kais Saied called on banks to lower interest rates, saying this measure is necessary to help improve the country's social and economic conditions.

Saied called for emergency powers on Sunday to seize control of the government, dismiss the prime minister and freeze parliament. His opponents described it as a coup, an accusation he denied.

Saied added: "We are able to face all challenges, with our capabilities, and with the help of our friends, but let us rely above all on ourselves, and we can achieve unimaginable results."

Tunisia, which saw its debt burden rise and its economy shrink by 8.8% last year in real terms, has started talks with the International Monetary Fund (IMF) for a financial aid package.

On Saturday, he said the corrupt have left the country on the verge of bankruptcy, adding in a meeting with the Association of Banks, "I urge you to stand with the Tunisian people by lowering interest rates as much as possible."