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.
History of modern Tunisia
In the 1980s the economy performed poorly. In 1983 the International Monetary Fund (IMF) forced the government to raise the price of bread and semolina, causing severe hardship and protest riots. In this situation, the Islamic Tendency Movement (MTI) under Rashid al-Ghannushi provided popular leadership. Civil disturbances, including those by the Islamists, were repressed by government security forces under General Zine El Abidine Ben Ali. The government persisted in following its program; Ben Ali was named prime minister.