Banking in Tunisia
Tunisia is known for economic and political stability, its highly educated workforce, while Islamic radicalism is weak. Tunisia does not have the resource curse of oil or mineral deposits that often determine instability. From 2000 to 2009, Tunisia grew at an annual rate of 5.2% and its per capita income of about $8,300 (in PPP terms) in 2009 was second only to Lebanon among the oil-importing MENA countries. The stability of the Tunisian Dinar and historically low inflation in Tunisia are positive indicators for its potential development of financial services. Inflation was 4.9% in FY 2007-08 and 3.5% in FY 2008-09. The Tunisian Dinar was less volatile in 2000-2010 than the currencies of its oil-importing neighbors, Egypt and Morocco.
2000s in Tunisia
In foreign affairs, Tunisia continued its close ties to the West. Nonetheless, the Arab League secretariat, which had moved to Tunis from Cairo in 1979, before Ben 'Ali's presidency, remained until 1991 when it relocated back to Cairo. An association agreement with the European Union, signed in 1995, was scheduled to move Tunisia toward full free trade with the EU by 2008. Following the 2001 al-Qaeda attacks on the United States, Tunisia stood with the west against terrorism. Within the Maghreb, efforts continued to form a regional unity with Algeria, Morocco, Libya, and Mauritania]], in the Arab Maghreb Union. Yet for Tunisia, "over 90 percent of its trade [was] with Europe, most of it with France." From the perspective of the first decade of the 21st century, Tunisia pursued a moderate strategy in its foreign relations, actively associated with the west, yet nurturing its ties to the developing world.