Tunisia
What is the Tunisian dinar (TND)?
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The Tunisian Dinar (TND) is the currency of Tunisia. It is subdivided into 1000 millimes. The Tunisian Dinar is not convertible into Pound Sterling. The Dinar is soft currency. The convertibility of the Dinar had been a working progress since 1987. Finally, in 1992, convertibility of the Dinar came about for both commercial & investment transactions. While knowledge of the Dinar's past is scarce, rules regarding exchange of the Dinar are better known. Importation and exportation of the Tunisian Dinar is illegal and this prohibition is strictly enforced; one cannot acquire Dinars outside of the country. The law provides heavy penalties for offences against exchange-control regulations.
Travel Notes:
There is no limit on the amount of foreign currency you may bring into the Tunisia. However, if you are going to spend 1000 Dinars or more when you leave, the law requires that you declare the amount of foreign currency you are carrying to customs authorities.Upon departure of Tunisia after a short non-resident stay, one may re-exchange up to one third of the amount of Dinars (up to a maximum of 100 TND) initially purchased; however, receipts are required. The amount of foreign currency brought into Tunisia is unlimited, however the law required declaration to customs authorities. Keep all the receipts for the currency exchange operations you make during your stay, as customs authorities may ask for them at the airport.- Moody's Rating
- Baa2, 17 Apr 2003
- S&P Rating
- A-
Sovereign credit ratings play an important part in determining a country's access to international capital markets, and the terms of that access. Sovereign ratings help to foster dramatic growth, stability, and efficiency of international and domestic markets.
What does it look like?
Political Structure
Tunisia\'s political structure is a republic, characterized by a solid presidential system and dominated by a unified political party. Since 1987 when he deposed Habib Bourguiba, Zine El Abidine Ben Ali has been in office as President of Tunisia. The nation's dominating party is the Democratic Constitutional Rally (RCD), which has been the sole legal party for nearly three decades (previously known as the Socialist Destourian Party, PSD). The President of Tunisia is elected for five-year terms with virtually no rivalry in place. The president is in charge of appointing a Prime Minister and a cabinet, both of which are integral parts of enforcing policies and laws. Furthermore, the central government appoints regional and local governments and administrators, largely comprised of consultative mayors and municipal councils. The Chamber of Deputies-the unicameral legislative body-has 182 seats, with one fifth reserved for the opposition. The Chamber is becoming increasingly important as it serves as an arena for debate on national policy, but never originates legislation and almost always passes bills presented by the executive (with minor changes at the most). The judiciary is technically independent, however in political cases tends to respond to executive direction. The military plays virtually no role in politics. As of mid 2005, there are six legal opposition parties.
Prominent Figures
Chief of State President Zine el Abidine BEN ALI (since 7 November 1987)Head of Government Prime Minister Mohamed GHANNOUCHI (since 17 November 1999)
Cabinet Council of Ministers appointed by the president
Elections president elected by popular vote for a five-year term (no term limits); election last held on 25 October 2009 (next to be held in October 2014); prime minister appointed by the president
Election Results President Zine El Abidine BEN ALI reelected for a fifth term; percent of vote - Zine El Abidine BEN ALI 89.6%, Mohamed BOUCHIHA 5%, Ahmed INOUBLI 3.8%, Ahmed BRAHIM 1.6%; voter turnout 89.4%
Key Economic Factors
Tunisia's economy is heavily affected by agriculture, mining, energy, tourism, and its manufacturing sectors. Although the government still has heavy control over the economy, in the last decade increased privatization, simplification of the tax structure, and a better approach towards debt has eased government involvement. Inflation has slowly declined since the 1990's, in part due to the growth in the tourism sector. Trade has also eased many of Tunisia's economic difficulties, as a relationship with the EU was created. Agreements with the EU have allowed Tunisia to remove trade barriers.
Industry:
petroleum, mining (particularly phosphate and iron ore), tourism, textiles, footwear, agribusiness, and beverages
Agriculture:
olives, olive oil, grain, dairy products, tomatoes, citrus fruit, beef, sugar beets, dates, and almonds
Export Commodities:
textiles, mechanical goods, phosphates and chemicals, agricultural products, hydrocarbons
Import Commodities:
textiles, machinery and equipment, hydrocarbons, chemicals, food
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Fast Facts
- Other Currencies Accepted: The euro, the British Pound, and the United States Dollar
- Currency Peg:No
- Black Market for Currency:Probable
- Currency Volatility:unknown
- Estimated GDP Per Capita:.21 billion (2009 est.) .96 billion (2008 est.) .33 billion (2007 est.) note: data are in 2009 US dollars
- Languages Spoken:Arabic (official and one of the languages of commerce), French (commerce)
