## Hope and Perseverance on Tunisia's Demanding Road Ahead

_IMF Blog, February 2, 2012_

## Source details

**Canonical URL:** [Hope and Perseverance on Tunisia's Demanding Road Ahead](https://www.imf.org/en/blogs/articles/2012/02/02/hope-and-perseverance-on-tunisias-demanding-road-ahead)

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## Bibliographic details
- Authors: Christine Lagarde
- Published: February 2, 2012

---

### Context and visit
- Author: Christine Lagarde
- Date: February 2, 2012
- Purpose: Official visit to Tunisia; meetings with new leaders, CEOs, banking representatives, and civil-society actors including women entrepreneurs, professors, and youth activists.
- Tunisia characterized as "the spark that ignited the Arab Spring" and as undergoing an "inclusive process of transition" to democracy and prosperity.

### Main economic challenges identified
- Deteriorating public finances.
- A widening current account deficit.
- Lingering problems in the banking sector.
- Widespread anxiety about the cost of living and trade.
- External pressure from "the looming debt crisis in the Euro zone."
- Financing gap for stabilizing the economy:
  - Capital markets expected to provide only a small part of needed funds, and at a higher cost.
  - Need for support from regional partners and the broader international community.
  - The IMF states it is "ready to do its part."

### Labor market and social concerns
- Unemployment estimated at 18 percent.
- Youth unemployment at over 40 percent.
- Emphasis that economic development is a means to enrich peoples’ lives, with gainful employment providing dignity, mobility, and hope.
- Call for harmonized action by government and private sector to boost investment, productivity, and create jobs.

### Immediate policy priorities and recommendations
- Ensure social cohesion while maintaining macroeconomic stability over the coming year.
- Secure adequate financing as a top priority, drawing on:
  - Capital markets (limited and costly).
  - Regional partners and the international community.
  - Support from multilateral institutions, including the IMF.
- Address chronic joblessness, especially among youth, through policies that stimulate investment and productivity and foster job creation.

### Outlook and concluding observations
- Acknowledgment that transitional periods bring "unease and impatience" amplified by global economic turbulence.
- Perspective: "The road ahead will be long and demanding," but the author expresses hope in Tunisia's ability to succeed.
- Cultural and human note: Tribute to Tunisia's diversity and resilience, with imagery of "magnificent ceramics," mosaics, and the strength of Tunisian women friends.

*Source: "Hope and Perseverance on Tunisia's Demanding Road Ahead" — Christine Lagarde, February 2, 2012.*

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## References

- [عربي](http://blog-montada.imf.org/?p=844)
- [https://www.imf.org/wp-content/uploads/2012/02/lagarde-tunis.jpg](https://www.imf.org/wp-content/uploads/2012/02/lagarde-tunis.jpg)
- [One year on](http://blogs.imf.org/2011/12/06/the-arab-spring-one-year-on/)
- [appointed](http://blogs.imf.org/2011/06/29/christine-lagarde-new-head-of-imf/)
- [inclusive process of transition](http://blogs.imf.org/2011/10/26/mideast-braces-itself-for-a-multi-year-transition/)
- [Tunisian CEOs and representatives of the banking sector](http://www.imf.org/external/np/sec/pr/2012/pr1232.htm)
- [counter chronic joblessness](http://blogs.imf.org/2011/10/24/lively-debate-on-the-dead-sea-shores/)
- [looming debt crisis](http://blogs.imf.org/2012/01/27/lagarde-in-davos-how-to-avoid-an-economic-deep-freeze/)
- [The IMF is ready to do its part](http://blogs.imf.org/2011/10/19/what-the-arab-spring-has-taught-us/)

_Source: https://www.imf.org/en/blogs/articles/2012/02/02/hope-and-perseverance-on-tunisias-demanding-road-ahead_