Front Matter

Front Matter

Gerwin Bell, M. Yücelik, Paul Duran, Saleh Nsouli, and Sena Eken
Published Date:
September 1993
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    The Path to Convertibility and Growth

    Saleh M. Nsouli, Sena Eken, Paul Duran, Gerwin Bell, and Zuhtu Yucelik


    Washington, D.C.

    December 1993

    © 1993 International Monetary Fund

    Library of Congress Cataloging-in-Publication Data

    The Path to convertibility and growth : the Tunisian experience/Saleh M. Nsouli … [et al.].

    p. cm. — (Occasional paper : 109)

    Includes bibliographical references.

    ISBN 1-55775-357-1

    1. Tunisia—Economic policy. 2. Structural adjustment (Economic policy)—Tunisia. 3. Currency convertibility—Tunisia. 4. Economic stabilization—Tunisia. I. Nsouli, Saleh M. II. Series:

    Occasional paper (International Monetary Fund); no. 109.

    HC820.p37 1993




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    The following symbols have been used throughout this paper:

    … to indicate that data are not available;

    — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

    – between years or months (e.g., 1991–92 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

    / between years (e.g., 1991/92) to indicate a crop or fiscal (financial) year.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.


    This paper was originally prepared for discussion in the IMF Executive Board. The authors are grateful to the Tunisian authorities for extensive background discussions and for their assistance in providing the requisite data. The authors wish to express their appreciation to Janet Bungay of the African Department for editing the original manuscript and Elisa Diehl of the External Relations Department for editing the final paper and coordinating its production. They would also like to thank Ilse-Marie Fayad for valuable research assistance, Marie-Thérèse Culp for her unstinting efforts in producing numerous drafts of the manuscript, and Alicia Etchebarne-Bourdin and the IMF Graphics Section for composition and artwork. The views expressed are the sole responsibility of the authors and do not necessarily reflect those of the IMF staff or IMF Executive Board.

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