Reorganization strategy for the Tunisian central bank

Abstract

The analysis of monetary policy in Tunisia highlights three main distinct periods with the support of the IMF: the last in 1987 when the country was in deep recession, after 1989 with the gradual privatization plan launched by the government and recently current period in the end of 2012, after revolution, in which the economic and financial balance recorded major shocks remanding back of the ex-period and the rise in arrow of the inflation. This article aims to provide an overview on key reforms Tunisian financial markets from 1989. These reforms have particularly affected the banking system and the implementation of monetary policy based on the interest rate as an instrument controller for the first phase and also the monetary aggregates, M3 mainly, following the evolution of economic conditions to our days 2014. But from the 90's view that the success recorded by the industrialized countries precursors on Inflation Targeting strategy IT and some developing countries as follower, we will demonstrate the inability of the Tunisian Central Bank TCB to pursue this inflation target announce strategy as a primary objective and the main difficulties before its actual realization in the current difficult economic environment.