DOCSLIB.ORG

Tunisia Tunisia ITALIE

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Tunisia Tunisia ITALIE 148 – Tunisia Tunisia ITALIE S a r d a i g n e Italie M E R � Iles Baléares MEDITERRANEE Espagne 2006 At a Glance M E R � MEDITERRANEE Ile de la Galite S i c i l e Population (mn) El Djazaïr� Rass Ben SekaaBizerte 10.2 Cap Bougar'oûn Italie Alger Cap de Fer Menzel Bourguiba Golfe de� Boumerdès Cap Rosa Tunis Cap Bon Tipaza Bejaïa SkikdaAnnaba Ariana Jijel Béja Tizi-Ouzou El Tarf Tunis Ile de Pantelleria� El Boulaida Ben Arous Italie Bouïra Mila Guelma Jendouba Population Growth (annual %) 1.1 Aïn Defla Souk Ahras Nabeul Lemdiyya Stif Qacentina Bordj� ZaghouanGolfe de� Bou Arreridj� IEN Oum El� A TL A S TE LL El Kef Siliana Hammamet � Bouagui Sousse MALTE Djebel Refaa� Batna M'sila� 2170 m Kairouan Monastir M 2328 m Tbessa Ile de� � fD Lampedusa� Official Language Italie Arabic E Mahdia L'A Khenchla Kasserine ÏL U RE 1712 m Rass Kaboudia N A S Mts DES� Jebel Chambi� El Djelfa� D Sidi Bou Zid LA NEMENTCHA 1544 m O U N �S E Sfax D E I Beskra� ts R M A ILES KERKENNA H � A Gafsa Currency Tunisian Dinar (TND) S S 23 m A Golfe de� M E R � T L 40 m Tozeur Gabès A Laghouat Ile de Jerba Gabès MEDITERRANEE Kebili Médenine GDP (Current US$ bn) 30.2 El Wad� � –ar$bulus� Tataouine JEFFARA Ghardaïa Tripoli GDP Growth (annual %) JEFFARA Misr$tah 5.8 Ghary$n R J$dº Yafran Wargla M N$lºt Golfe de� E A H L F ª S la Grande Syrt L J A B A L N A Ban= Wal=d E A L Mizdah A T GDP Per Capita (US$) 2,962 B I Surt N O D a i E M I d e R u O O LIBYE G D A A L H A M FDI, net inflows (US$ mn) (2005) Ghad$mis M A R A 782.4 A R H E D N JABAL� A WADD*N R P L A T E A U H E R T D U N G T Wadd$n G T I IN External Debt (US$ bn) 17.5 U G D H E A U R T E T JABAL AS-SAWD* A P L Sovereign Ratings 1189 m External Debt/GDP (%) 57.8 A D E S E R T � L ALGERIE - H 1200 m Ad=r= A D E O U B A R I R ª Long Local ¡AM*DAT ZEGHERForeign J O A A L CPI Inflation (annual %) S Sabh$ 4.5 - IS D E A SA BH* S W TUNISIE Awb$r= A D Term CurrencyIlizi Currency Exports of goods and services (% of GDP) 48.2 Fitch GEOATLAS - A-Copyright1998 Graphi-OgreBBB Gross Official Reserves (US$ bn) 5.1 0 km 100 200 300 400 km S&P A BBB Gross Official Reserves (in months of imports) 4.7 UNDP HDI RANKING 87 Moody’s Baa2 Baa2 Source: AfDB, IMF, UNCTAD, UNDP, UN Population Division 1. Overview of Financial System regulating, monitoring and supervising the capital The financial system, while dominated by the banking markets. It oversees and controls the stock market, industry, also includes a capital markets sector. 24 brokerage companies, mutual funds and the The Central Bank of Tunisia, Banque Centrale de clearing and settlement house. Twelve banks and one Tunisie (BCT), was established in 1958, and plays brokerage company are primary market dealers. a regulatory and supervisory role over banks and financial establishments which include enacting Bank and Non-Bank Financial Sector management rules and setting prudential standards. Twenty commercial banks, eight offshore banks It acts as the financial and fiscal agent of the and two merchant banks are operating in the government, and advises on economic and monetary country. Most commercial banks are also majority management issues. shareholders in leasing companies, and investment The primary objective of the monetary policy in Tunisia funds. The government maintains a firm control is to maintain price stability. over the three largest banks (Banque Nationale de The BCT formulates and implements monetary l’Agriculture, Banque de l’Habitat, Société Tunisienne policies through open market operations and uses de Banque). the monetary base as operating target, and inflation The banking sector remains dominant, accounting for as intermediate operating target. over 90% of financing to the economy, but has been The capital markets have a marginal role in financing plagued with high levels of non-performing loans. the economy (7%) compared to the banking industry, The authorities are making efforts to strengthen the although there have been recent spurts of growth. sector by improving prudential practices. Reforms The Financial Markets Council, (Conseil du Marché have thus been initiated to ensure the stability of the T Financier-CMF), created in 1994, is responsible for banking system, and have led to the improvement of Tunisia – 149 the institutional framework, the adoption of a statutory to increase by 2009 the capital markets share of and prudential framework that meets with international the finance system to 20% and the number of listed banking standards, and a better response to demand companies to 100. for financing. More than 90% of bonds issued are government The insurance and pension sectors remain very securities. The number of corporate issuers is limited small. There are 18 local insurance firms and three although fiscal incentives have been offered to induce offshore insurance firms, and their penetration rate is listing. Bonds are usually listed on the stock exchange quite low (1.8% compared to a world average of 8%). and therefore regulated and supervised by the CMF. The insurance sector is expected to provide long- term resources for private investments. However, 2. Fixed Income Market insurance companies have not yet succeeded in Government Securities stimulating the development of national savings. In conducting its monetary policy, the central bank A stronger insurance sector with diversified uses a variety of financial instruments. It auctions product offerings would undoubtedly promote the securities every two weeks, using the Dutch auction development of capital markets by providing long system. The day count basis convention used for term resources. Approximately 9.5% of the investors treasury securities is actual / 365. Security types are in bond markets are insurance firms, and 50% are presented below: mutual funds (Organismes de Placement Collectif • Treasury bonds (Bons du Trésor Assimilables- en Valeurs Mobilières-OPCVM). There were 45 BTA), first launched in 1997 with maturities ranging mutual funds with total assets of USD 2,042 mn as of from 2-12 years. A total amount of TND 1,010 mn 31 December 2006. was issued in 2006. A Guarantee Fund has been established by a • Treasury bills (Bons du Trésor à Court Terme brokerage firm, Fonds de Garantie de Marché, to -BTCT). Maturities can vary from 13, 26 or 52 guarantee capital markets transactions in case weeks. A total amount of TND 485 mn was issued of non-payment. It protects stockbrokers against in 2006. counterparty risks. • A zero-coupon treasury bond was launched for the first time in 2006, with a 10-year maturity. The Capital Markets issue has been re-opened twice. The amount of The stock exchange, Bourse des Valeurs Mobilières the issue was TND 107 mn. de Tunis (BVMT), was established in 1969 and Foreign investors can only purchase up to 10% of privatized in 1994. It is regulated and supervised by the estimated semi-annual volume of treasury bonds the Financial Markets Council. Forty-eight companies, issued by the Government. They are not allowed to mostly from the finance industry, were listed on the invest in T-bills. Repatriation of principal and interest BVMT in 2006 with a combined market capitalization of is only allowed if the purchase was originally made USD 4,224 mn. Stocks from banks account for more by converting foreign currency into Tunisian Dinars. than 55% of total capitalization. The stock exchange In 2006, foreign-domiciled investment amounted to performance is measured by two indices: the BVMT 0.135% of BTA issuance (0.044% in 2005). index (created in 1990, and currently composed of 32 stocks) and a broader index, the Tunindex (created in 1998 and currently composed of 40 stocks). During the last decade, the role and efficiency of capital markets have been improved through various reforms. The objective of the Tunisian authorities is 150 – Tunisia Tunisia Yield Curve (End 2006) InteRnational issuance 7.00 6.50 Tunisia has been rated investment grade since 1994 and was for a long period the only % 6.00 sovereign in Northern Africa to access the 5.50 international capital markets. Tunisia has been 5.00 52 Wks 6 Y 7Y 10Y a regular issuer in both Samurai and Yankee Source: Financial Markets Council bonds, with maturities ranging from 2-30 years. Tunisia issues approximately EUR 500 mn per year. All borrowings in the international capital markets are conducted by the central bank. Non-Central Government Issuance The share of non-government debt issues remains small compared to total market issuance. Over 42% of outstanding issues are from banks (TND 299 mn), 45% from leasing companies (TND 315 mn), 7% from the tourism sector (TND 50 mn), and 1.6% from the factoring sector (TND 11 mn). A total of eight corporate bonds were launched in 2006, for a total amount of TND 228 mn. Details of these issues are presented in the following table: Corporate issues in 2006 Issuer Sector Amount in TND Coupon* Maturity Attijari Bank** Bank 80 000 000 4.82% 5 years Amen Bank Bank 40 000 000 TMM+1% 10 years Unifactor Factoring 10 000 000 6.50% or TMM+1% 5 years BTKD Bank 40 000 000 6.25% 5 years Tunisie Leasing Leasing 15 000 000 6.5% or TMM + 1% 5 years El Wifack Leasing Leasing 5 000 000 6.5% or TMM + 1% 5 years ATL Leasing 30 000 000 6.5% or TMM + 1% 7 years El Mouradi Hotel 8 000 000 6.50% 7 years * TMM is the monthly money market rate ** convertible bond Secondary Market (STICODEVAM) is the clearing and settlement The secondary market is small.
Load more

Recommended publications
  • C a Se Stud Y
    This project is funded by the European Union November 2020 Culture in ruins The illegal trade in cultural property Case study: Algeria and Tunisia Julia Stanyard and Rim Dhaouadi Summary This case study forms part of a set of publications on the illegal trade in cultural property across North and West Africa, made up of a research paper and three case studies (on Mali, Nigeria and North Africa). This study is focused on Algeria and Tunisia, which share the same forms of material culture but very different antiquity markets. Attention is given to the development of online markets which have been identified as a key threat to this region’s heritage. Key findings • The large-scale extraction of cultural objects in both countries has its roots in the period of French colonial rule. • During the civil war in Algeria in the 1990s, trafficking in cultural heritage was allegedly linked to insurgent anti-government groups among others. • In Tunisia, the presidential family and the political elite reportedly dominated the country’s trade in archaeological objects and controlled the illegal markets. • The modern-day trade in North African cultural property is an interlinked regional criminal economy in which objects are smuggled between Tunisia and Algeria as well as internationally. • State officials and representatives of cultural institutions are implicated in the Algerian and Tunisian antiquities markets in a range of different capacities, both as passive facilitators and active participants. • There is evidence that some architects and real estate entrepreneurs are connected to CASE STUDY CASE trafficking networks. Introduction The region is a palimpsest of ancient material,7 much of which remains unexplored and unexcavated by Cultural heritage in North Africa has come under fire archaeologists.
    [Show full text]
  • Tunisia Summary Strategic Environmental and Social
    PMIR Summary Strategic Environmental and Social Assessment AFRICAN DEVELOPMENT BANK GROUP PROJECT: ROAD INFRASTRUCTURE MODERNIZATION PROJECT COUNTRY: TUNISIA SUMMARY STRATEGIC ENVIRONMENTAL AND SOCIAL ASSESSMENT (SESA) Project Team: Mr. P. M. FALL, Transport Engineer, OITC.2 Mr. N. SAMB, Consultant Socio-Economist, OITC.2 Mr. A. KIES, Consultant Economist, OITC 2 Mr. M. KINANE, Principal Environmentalist, ONEC.3 Mr. S. BAIOD, Consultant Environmentalist ONEC.3 Project Team Sector Director: Mr. Amadou OUMAROU Regional Director: Mr. Jacob KOLSTER Division Manager: Mr. Abayomi BABALOLA 1 PMIR Summary Strategic Environmental and Social Assessment Project Name : ROAD INFRASTRUCTURE MODERNIZATION PROJECT Country : TUNISIA Project Number : P-TN-DB0-013 Department : OITC Division: OITC.2 1 Introduction This report is a summary of the Strategic Environmental and Social Assessment (SESA) of the Road Project Modernization Project 1 for improvement works in terms of upgrading and construction of road structures and primary roads of the Tunisian classified road network. This summary has been prepared in compliance with the procedures and operational policies of the African Development Bank through its Integrated Safeguards System (ISS) for Category 1 projects. The project description and rationale are first presented, followed by the legal and institutional framework in the Republic of Tunisia. A brief description of the main environmental conditions is presented, and then the road programme components are presented by their typology and by Governorate. The summary is based on the projected activities and information contained in the 60 EIAs already prepared. It identifies the key issues relating to significant impacts and the types of measures to mitigate them. It is consistent with the Environmental and Social Management Framework (ESMF) developed to that end.
    [Show full text]
  • Les Projets D'assainissement Inscrit S Au Plan De Développement
    1 Les Projets d’assainissement inscrit au plan de développement (2016-2020) Arrêtés au 31 octobre 2020 1-LES PRINCIPAUX PROJETS EN CONTINUATION 1-1 Projet d'assainissement des petites et moyennes villes (6 villes : Mornaguia, Sers, Makther, Jerissa, Bouarada et Meknassy) : • Assainissement de la ville de Sers : * Station d’épuration : travaux achevés (mise en eau le 12/08/2016); * Réhabilitation et renforcement du réseau et transfert des eaux usées : travaux achevés. - Assainissement de la ville de Bouarada : * Station d’épuration : travaux achevés en 2016. * Réhabilitation et renforcement du réseau et transfert des eaux usées : les travaux sont achevés. - Assainissement de la ville de Meknassy * Station d’épuration : travaux achevés en 2016. * Réhabilitation et renforcement du réseau et transfert des eaux usées : travaux achevés. • Makther: * Station d’épuration : travaux achevés en 2018. * Travaux complémentaires des réseaux d’assainissement : travaux en cours 85% • Jerissa: * Station d’épuration : travaux achevés et réceptionnés le 12/09/2014 ; * Réseaux d’assainissement : travaux achevés (Réception provisoire le 25/09/2017). • Mornaguia : * Station d’épuration : travaux achevés. * Réhabilitation et renforcement du réseau et transfert des eaux usées : travaux achevés Composantes du Reliquat : * Assainissement de la ville de Borj elamri : • Tranche 1 : marché résilié, un nouvel appel d’offres a été lancé, travaux en cours de démarrage. 1 • Tranche2 : les travaux de pose de conduites sont achevés, reste le génie civil de la SP Taoufik et quelques boites de branchement (problème foncier). * Acquisition de 4 centrifugeuses : Fourniture livrée et réceptionnée en date du 19/10/2018 ; * Matériel d’exploitation: Matériel livré et réceptionné ; * Renforcement et réhabilitation du réseau dans la ville de Meknassy : travaux achevés et réceptionnés le 11/02/2019.
    [Show full text]
  • Policy Notes for the Trump Notes Administration the Washington Institute for Near East Policy ■ 2018 ■ Pn55
    TRANSITION 2017 POLICYPOLICY NOTES FOR THE TRUMP NOTES ADMINISTRATION THE WASHINGTON INSTITUTE FOR NEAR EAST POLICY ■ 2018 ■ PN55 TUNISIAN FOREIGN FIGHTERS IN IRAQ AND SYRIA AARON Y. ZELIN Tunisia should really open its embassy in Raqqa, not Damascus. That’s where its people are. —ABU KHALED, AN ISLAMIC STATE SPY1 THE PAST FEW YEARS have seen rising interest in foreign fighting as a general phenomenon and in fighters joining jihadist groups in particular. Tunisians figure disproportionately among the foreign jihadist cohort, yet their ubiquity is somewhat confounding. Why Tunisians? This study aims to bring clarity to this question by examining Tunisia’s foreign fighter networks mobilized to Syria and Iraq since 2011, when insurgencies shook those two countries amid the broader Arab Spring uprisings. ©2018 THE WASHINGTON INSTITUTE FOR NEAR EAST POLICY. ALL RIGHTS RESERVED. THE WASHINGTON INSTITUTE FOR NEAR EAST POLICY ■ NO. 30 ■ JANUARY 2017 AARON Y. ZELIN Along with seeking to determine what motivated Evolution of Tunisian Participation these individuals, it endeavors to reconcile estimated in the Iraq Jihad numbers of Tunisians who actually traveled, who were killed in theater, and who returned home. The find- Although the involvement of Tunisians in foreign jihad ings are based on a wide range of sources in multiple campaigns predates the 2003 Iraq war, that conflict languages as well as data sets created by the author inspired a new generation of recruits whose effects since 2011. Another way of framing the discussion will lasted into the aftermath of the Tunisian revolution. center on Tunisians who participated in the jihad fol- These individuals fought in groups such as Abu Musab lowing the 2003 U.S.
    [Show full text]
  • In Tunisia Policies and Legislations Related to the Democratic Transition
    Policies and legislations The constitutional and legal framework repre- sents one of the most important signs of the related to the democratic transition in Tunisia. Especially by establishing rules, procedures and institutions in order to achieve the transition and its goals. Thus, the report focused on further operatio- nalization of the aforementioned framework democratic while seeking to monitor the events related to, its development and its impact on the transi- tion’s path. Besides, monitoring the difficulties of the second transition, which is related to the transition and political conflict over the formation of the go- vernment and what’s behind the scenes of the human rights official institutions. in Tunisia The observatorypolicies and rightshuman and legislation to democratic transition related . 27 Activating the constitutional and legal to submit their proposals until the end of January. Then, outside the major parties to be in the forefront of the poli- the committee will start its action from the beginning of tical scene. framework for the democratic transition February until the end of April 2020, when it submits its outcome to the assembly’s bureau. The constitution of 2015 is considered as the de facto framework for the democratic transition. And all its developments in the It is reportedly that the balances within the council have midst of the political life, whether in texts or institutions, are an not changed numerically, as it doesn’t witness many cases The structural and financial difficulties important indicator of the process of transition itself. of changing the party and coalition loyalties “Tourism” ex- The three authorities and the balance cept the resignation of the deputy Sahbi Samara from the of the Assembly Future bloc and the joining of deputy Ahmed Bin Ayyad to among them the Dignity Coalition bloc in the Parliament.
    [Show full text]
  • Potential Threats to Afro-Palearctic Migrato
    www.nature.com/scientificreports OPEN Unravelling the drastic range retraction of an emblematic songbird of North Africa: potential Received: 31 October 2016 Accepted: 16 March 2017 threats to Afro-Palearctic migratory Published: xx xx xxxx birds Rassim Khelifa1, Rabah Zebsa2, Hichem Amari3, Mohammed Khalil Mellal4, Soufyane Bensouilah3, Abdeldjalil Laouar5 & Hayat Mahdjoub1 Understanding how culture may influence biodiversity is fundamental to ensure effective conservation, especially when the practice is local but the implications are global. Despite that, little effort has been devoted to documenting cases of culturally-related biodiversity loss. Here, we investigate the cultural domestication of the European goldfinch (Carduelis carduelis) in western Maghreb (Morocco, Algeria and Tunisia) and the effects of long-term poaching of wild populations (1990–2016) on range distribution, socio-economic value, international trading and potential collateral damage on Afro- Palearctic migratory birds. On average, we found that the European goldfinch lost 56.7% of its distribution range in the region which led to the increase of its economic value and establishment of international trading network in western Maghreb. One goldfinch is currently worth nearly a third of the average monthly income in the region. There has been a major change in poaching method around 2010, where poachers started to use mist nets to capture the species. Nearly a third of the 16 bird species captured as by-catch of the European goldfinch poaching are migratory, of which one became regularly sold as cage-bird. These results suggest that Afro-Palearctic migratory birds could be under serious by-catch threat. Species overexploitation for wildlife trade is a major global threat to biodiversity, particularly birds1, 2.
    [Show full text]
  • Download Download
    Nisan / The Levantine Review Volume 4 Number 2 (Winter 2015) Identity and Peoples in History Speculating on Ancient Mediterranean Mysteries Mordechai Nisan* We are familiar with a philo-Semitic disposition characterizing a number of communities, including Phoenicians/Lebanese, Kabyles/Berbers, and Ismailis/Druze, raising the question of a historical foundation binding them all together. The ethnic threads began in the Galilee and Mount Lebanon and later conceivably wound themselves back there in the persona of Al-Muwahiddun [Unitarian] Druze. While DNA testing is a fascinating methodology to verify the similarity or identity of a shared gene pool among ostensibly disparate peoples, we will primarily pursue our inquiry using conventional historical materials, without however—at the end—avoiding the clues offered by modern science. Our thesis seeks to substantiate an intuition, a reading of the contours of tales emanating from the eastern Mediterranean basin, the Levantine area, to Africa and Egypt, and returning to Israel and Lebanon. The story unfolds with ancient biblical tribes of Israel in the north of their country mixing with, or becoming Lebanese Phoenicians, travelling to North Africa—Tunisia, Algeria, and Libya in particular— assimilating among Kabyle Berbers, later fusing with Shi’a Ismailis in the Maghreb, who would then migrate to Egypt, and during the Fatimid period evolve as the Druze. The latter would later flee Egypt and return to Lebanon—the place where their (biological) ancestors had once dwelt. The original core group was composed of Hebrews/Jews, toward whom various communities evince affinity and identity today with the Jewish people and the state of Israel.
    [Show full text]
  • Curriculum Vitae
    Curriculum vitae Name: Lazhari BOUZID DOB: 01/01/1953 Marital status: Married Phone: Home: 00 213 31 90 90 45 Cell: 00213 661 53 45 92 Office: 00 213 21 73 61 14 Fax: 00 213 21 73 62 91 Email: [email protected] Address: Home: Rue Sahraoui Belgacem, N 731, El - Fedj, Ain El Bey 2, Constantine – 25020, Algeria Office: Conseil de la Nation, 7 Boulevard Zighoud Youcef, Algiers – 16000, Algeria Current position: - Senator (Algerian Council of the Nation) - Member of the Foreign Affairs Commission, at the Algerian Council of the Nation Working languages: - Arabic - English - French Educational background: - 1976: Bachelor of Law, University of Constantine, Algeria. - 1978: Diploma in Public International Law, University of London, UK - 1979: LL.M in public international law, university of London, UK - 1990: PhD in International Law, University of Glasgow, UK Main Professional activities: - June 2007 to present: Member of the Foreign Affairs Commission, Council of the Nation - April 2007: Nominated for a third term as Senator—the term will end in January 2013 - October 2006 to present: President of the Algerian-British Parliamentary Friendship Group - December 2005: President of the National Liberation Front party’s (FLN) Commission in charge of revising the constitution and the laws on elections and political parties - 2004-2007: Member of the Defense Commission, Council of the Nation - February 2004: Nomination for a second term as Senator - 2003-2004: Member of the Commission in charge of drafting the Presidential programme for the 2004
    [Show full text]
  • What Future of the Tunisian Dinar Against the Euro? Prediction with the ARIMA Model
    Munich Personal RePEc Archive What future of the Tunisian dinar against the euro? Prediction with the ARIMA model GRITLI, Mohamed Ilyes Université de Tunis El Manar, Faculté des Sciences Economiques et de Gestion de Tunis, Université de Pau et des Pays de l’Adour (UPPA), CATT, 64016 Pau, France 15 January 2018 Online at https://mpra.ub.uni-muenchen.de/83937/ MPRA Paper No. 83937, posted 15 Jan 2018 14:20 UTC Quel avenir du dinar tunisien face à l'euro ? Prévision avec le modèle ARIMA MOHAMED ILYES GRITLI Université de Tunis El Manar, Faculté des Sciences Economiques et de Gestion de Tunis, Laboratoire d’Intégration Économique Internationale, 2092 Tunis, Tunisie Université de Pau et des Pays de l’Adour (UPPA), CATT, 64016 Pau, France [email protected] Résumé: L'Union européenne absorbe près de 75% des exportations tunisiennes et représente environ 50% des importations tunisiennes, ce qui explique le poids important de l’euro dans le panier d’ancrage du dinar tunisien. Ainsi, l’objet de cet article consiste à prédire les fluctuations du taux de change EUR/DNT à court terme, en utilisant le modèle ARIMA (0,1,1). Les résultats montrent qu’une unité d’euro sera échangée contre 3.05126 dinars (modèle sans rupture) et contre 3.22409 dinars (modèle avec rupture), pour le mois d’octobre 2018. Cela suggère que le degré de dépréciation du dinar va dépendre de la politique menée par la Banque Centrale de Tunisie. Summary: The European Union absorbs nearly 75% of Tunisian exports and represents about 50% of Tunisian imports, which explains the important weight of the euro in the Tunisian dinar anchor basket.
    [Show full text]
  • The Situation DREF Final Report Tunisia
    DREF final report Tunisia: Civil Unrest DREF operation n° MDRTN004 28 September, 2011 The International Federation of Red Cross and Red Crescent (IFRC) Disaster Relief Emergency Fund (DREF) is a source of un-earmarked money created by the Federation in 1985 to ensure that immediate financial support is available for Red Cross Red Crescent response to emergencies. The DREF is a vital part of the International Federation’s disaster response system and increases the ability of National Societies to respond to disasters. Summary: CHF 150 000 was allocated from the IFRC’s Disaster Relief Emergency Fund (DREF) 25 January, 2011 to support the national society in delivering assistance to some 5000 beneficiaries, or to replenish disaster preparedness stocks. For several months the Tunisian Red Crescent has marked its strong presence in the society by assisting poor families in need and alleviating the suffering of others affected by the events of the revolution that began on December 17, 2010. Throughout Tunisia, volunteers provided moral and material assistance to more than 1000 families mainly in ten cities. Since the Libyan crisis has occurred which took a toll over the Tunisian-Libyan borders, it was not an easy work for the Tunisian Red Crescent Volunteers to handle the effects of the internal unrest and the pressure along the Tunisian-Libyan border . In March 2011, the Tunisian Red Crescent Society distributed food baskets after the civil unrest. TRC The total amount spent was CHF 94,430. The remaining balance of CHF 55,570 will be reimbursed to DREF. The major donors to the DREF are the Irish, Italian, Netherlands and Norwegian governments and ECHO.
    [Show full text]
  • List of Certain Foreign Institutions Classified As Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms
    NOT FOR PUBLICATION DEPARTMENT OF THE TREASURY JANUARY 2001 Revised Aug. 2002, May 2004, May 2005, May/July 2006, June 2007 List of Certain Foreign Institutions classified as Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms The attached list of foreign institutions, which conform to the definition of foreign official institutions on the Treasury International Capital (TIC) Forms, supersedes all previous lists. The definition of foreign official institutions is: "FOREIGN OFFICIAL INSTITUTIONS (FOI) include the following: 1. Treasuries, including ministries of finance, or corresponding departments of national governments; central banks, including all departments thereof; stabilization funds, including official exchange control offices or other government exchange authorities; and diplomatic and consular establishments and other departments and agencies of national governments. 2. International and regional organizations. 3. Banks, corporations, or other agencies (including development banks and other institutions that are majority-owned by central governments) that are fiscal agents of national governments and perform activities similar to those of a treasury, central bank, stabilization fund, or exchange control authority." Although the attached list includes the major foreign official institutions which have come to the attention of the Federal Reserve Banks and the Department of the Treasury, it does not purport to be exhaustive. Whenever a question arises whether or not an institution should, in accordance with the instructions on the TIC forms, be classified as official, the Federal Reserve Bank with which you file reports should be consulted. It should be noted that the list does not in every case include all alternative names applying to the same institution.
    [Show full text]
  • Central Bank Independence in North Africa
    POLICY BRIEF NO. 36 MARCH 2014 CENTRAL BANK INDEPENDENCE IN NORTH AFRICA BESSMA MOMANI AND SAMANTHA ST. AMAND KEY POINTS • Over the past 30 years, North African states have made positive strides toward central bank independence (CBI) that are correlated with overall structural transformations toward economic liberalization. • The Arab uprisings appeared to provide a positive political nudge for advancing statutory amendments toward CBI. • Compared to other emerging market economies and developing regions, there is further room for improvement on achieving the goals of CBI in North Africa. • CBI in North Africa can be strengthened by promoting a learning culture and technocratic BESSMA MOMANI values within the central banks. Bessma Momani is associate professor in the Department of Political Science at the University INTRODUCTION of Waterloo and the BSIA. She is also a senior fellow with the Centre for International Governance Securing CBI has become best practice in global governance. Both the political Innovation (CIGI). and economic literatures suggest that CBI facilitates price stability, promotes transparency to citizens and provides accountability toward the public good. CBI is also credited with protecting the economic and financial system from the trappings of regulatory capture. In addition, a number of scholars have argued that CBI is correlated with positive policy outcomes, including balanced long- term economic growth, stable financial markets and a reduced likelihood of publicly funded financial institution bailouts. Moreover, some have suggested that CBI is important for fostering a healthy liberal democracy. As global markets SAMANTHA ST. AMAND have become increasingly integrated and interdependent, securing CBI is also Samantha St. Amand is a research associate in the Global Economy considered a domestic, regional and global public good.
    [Show full text]