Morning Brief - june 23rd, 2020

FINANCIAL MARKET HEADLINES

| CEMAC | PUBLIC SECURITIES | Chad will issue FCFA 25.3 Bn

Chad will issue, on June 24th 2020, FCFA 25.3 Bn of Assimilated Treasury Bills (BTA) for a 26-week maturity.

ECONOMIC HEADLINES

| MOROCCO | CPI | A decline of 0.2% y-o-y in May 2020

In May 2020, the consumer price index fell by 0.2% compared to the previous month. This reflects the 0.6% drop in the food index and the 0.1% increase in the non-food index. On a y-o-y basis, the CPI declined by 0.2%.
Note that the underlying inflation indicator, which excludes products with volatile prices and products with public tariffs, re-mained stable compared to April 2020 and increased by 0.8% compared to May 2019.

| TUNISIA | FOREIGN TRADE | Export’s volume down 23% at the end of May 2020

During the first five months of 2020, Tunisia's export and import volume recorded respective declines of 22.8% and 23.3% com-pared to the same period of the previous year. Meanwhile, prices fell by 1.3% for exports and rose by 1.1% for imports.