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Tunisia hard-currency bonds drop on escalation of political crisis

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LONDON, July 26 (Reuters) - Hard-currency bonds issued by Tunisia's central bank dropped sharply on Monday after the country's president dismissed the government and froze parliament on Sunday in an escalation of political crisis.

The 2025 dollar-denominated issue slipped 2.6 cents to trade at 86.005 cents in the dollar, its lowest level since mid-March, Tradeweb data showed.

The 2024 euro-denominated bond tumbled more than three cents to 86.348 cents in the euro, a near-nine month low, according to Tradeweb.

President Kais Saied said on Sunday he would assume executive authority with the assistance of a new prime minister in a move his opponents labelled a coup. This is the biggest challenge yet to the democratic system Tunisia introduced in a 2011 revolution.

(Reporting by Karin Strohecker; Editing by Tom Arnold)