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699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | All banks, including public banks, to comply with minimum solvency ratio required by the existing regulations (10 percent). | 7 | 12/31/2014 | MOD-DATE | Introduced at R4. Objective: financial sector stability. At R5, not met. The minimum ratio will be met by private banks by end-December 2014, but delayed to May 2015 for public banks, which still have to be recapitalized. | 5 | 7 | 2014-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | All banks, including public banks, to comply with minimum solvency ratio required by the existing regulations (10 percent). | 7 | 05/31/2015 | SB | At R5, new test date. | 5 | 7 | 2015-05-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Development and implementation of the new reporting and rating system for banks. | 8 | 12/31/2014 | SB | Introduced at R4. Objective: financial sector stability. At R5, in progress. Work on the new rating and reporting system is in progress with technical assistance from the IMF. | 5 | 8 | 2014-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Adoption by Parliament of the banking law (that includes a banking resolution framework) in line with sound international practices. | 9 | 03/31/2015 | SB | Introduced at R5. Objective: Financial sector stability. | 5 | 9 | 2015-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Publication, on the Official Gazette, of the law governing the functioning of the AMC in line with sound international practices, as well as Government adoption of the related implemetation decrees. | 10 | 04/30/2015 | SB | At R5, modified from "Creation of Asset Management Company (AMC) through the publication in the Official Journal of the Law on the AMC." Objective: Financial sector stability. | 5 | 10 | 2015-04-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Adoption by the Government of retructuring plans for the BH and STB. | 1 | 08/31/2014 | MOD-PA | Introduced at R3. Objective: financial sector stability. This structural benchmark is made a prior action for completion of R4. | 5 | 1 | 2014-08-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Adoption by the Government of the BNA restructuring plan. | 2 | 11/30/2014 | NM | Introduced at R4. Objective: financial sector stability. At R5, not met. The audit has been completed, and options for a sound restructuring are being assessed, and presented to the Board of Directors on November 11, 2014. The plan will follow sound international practices once the recapitalization modalities are defined and the restructuring option has been chosen. | 5 | 2 | 2014-11-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Designation of fit and proper Board members of the three public banks, with private sector experience. | 3 | 01/31/2015 | SB | Introduced at R5. Objective: Financial sector stability. | 5 | 3 | 2015-01-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Adoption of recapitalization plans in line with sound international practices by the general assembly of the three public banks, following the criteria outlined in Annex 1 to the MEFP and based on the results of the audits. | 4 | 03/31/2015 | SB | Introduced at R5. Objective: Financial sector stability. | 5 | 4 | 2015-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Approval by the Board of Directors of performance contracts in line with norms included in the bank restructuring plans for the STB, BH and BNA and subordinated to the approval of the respective recapitalization plans. | 5 | 03/31/2015 | SB | Introduced at R5. Objective: Financial sector stability. | 5 | 5 | 2015-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 26 | 7. Exchange systems and restrictions (current and capital) | Implementation of an electronic bank interlinking platform and launch of the Market Makers Agreement. | 1 | 10/31/2013 | MOD-DATE | Introduced at R0. Objective: Greater exchange rate flexibility. At R1R2, NOT MET, becdause of technical delays. Work is ongoing and this is a new structural benchmark for mid-March 2014. | 5 | 1 | 2013-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 26 | 7. Exchange systems and restrictions (current and capital) | Implementation of an electronic bank interlinking platform and launch of the Market Makers Agreement. | 1 | 03/15/2014 | M | At R1R2, new test date. At R3, MET. The electronic platform allowing the interconnection with banks and the Market Makers Agreement are now in place. | 5 | 1 | 2014-03-15 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 26 | 7. Exchange systems and restrictions (current and capital) | Implementation of a weekly foreign exchange auction mechanism. | 2 | 12/31/2014 | SB | Introduced at R1R2. Objective: Greater exchange rate flexibility. At R5, in progress. The hardware platform has been put in place, and the software will be put in place following IMF TA. | 5 | 2 | 2014-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Decree for implementing the new investment code in line with the objective of protecting market access, reducing restrictions on investments, and rationalizing of incentives. | 1 | 03/31/2014 | MOD-DATE | Introduced at R1R2. Objective: Support for balanced growth driven by the private sector. At R3, Not MET. Implementation decrees will be finalized once the investment code is ratified by Parliament. New test date of end-September 2014 is specified. | 5 | 1 | 2014-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Decree for implementing the new investment code in line with the objective of protecting market access, reducing restrictions on investments, and rationalizing of incentives. | 1 | 09/30/2014 | MOD-SB | At R3, new test date. At R4, The decrees will not be submitted to Parliament because the government decided to withdraw the draft law on the investment code from parliament; New measures for investment promotion will be taken. They will eventually be included in the new code. At R5, not met and modified to "Revision of the new investment code in line with the objective to protect market access, reduce investment restrictions, and rationalize exemptions." The decrees will not be submitted to Parliament because the government decided to withdraw the draft law on the investment code from parliament; a revised code will be prepared by May 2015. | 5 | 1 | 2014-09-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2014-12-12 | P1 | R5 | BLANK | SB | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Revision of the new investment code in line with the objective to protect market access, reduce investment restrictions, and rationalize exemptions. | 2 | 04/30/2015 | SB | At R5, modified from "Decree for implementing the new investment code in line with the objective of protecting market access, reducing restrictions on investments, and rationalizing of incentives." | 5 | 2 | 2015-04-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | PA | 25 | 6. Financial sector | Adoption by the Council of Ministers of the strategic vision of the government's future role in banks (or at least in STB and BH) on the basis of preliminary results from the audit of public banks. | 1 | Third Review Prior action | M | Previously a structural benchmark with end-March 2014 test date. Objetive: financial sector stability. | 6 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | PA | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | BH bank to comply with minimum solvency ratios required as of March 2015 (10 percent), and completion of the first phase of the capital subscription process for
the STB bank. | 1 | Sixth Review Prior action | M | Objective: financial sector stability. Other: BH will meet prudential ratios. Existing shareholders of STB who wish to participate in the recapitalization will have done so. | 6 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | PA | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Issuance of explicit sovereign guarantees for STB and BH's loans to state-owned enterprises that support the lower provisioning, which is taken into account for determining the reduced recapitalization amount. | 2 | Sixth Review Prior action | M | Objective: financial sector stability. Other: This is needed to justify the recapitalization amounts. | 6 | 2 | 2023-09-23 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | PA | 25.2 | 6.2. Restructuring and privatization of financial institutions | Adoption by the government of the restructuring plans for BH and STB in line with international best practices as described in Annex I. | 1 | Fourth Review Prior action | M | Previously a structural benchmark with end-August 2014 test date. Objective: financial sector stability. | 6 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.1 | 1.1. Revenue measures, excluding trade policy | Approval by the Council of Ministers of the corporate tax reform announcing the convergence of the tax rates of onshore and offshore sectors for 2014 and identification of countervailing measures to ensure a neutral impact on revenues. | 1 | 07/31/2013 | MD | Introduced at R0. Objective: Minimization of distortions, and tax fairness and simplification. At R1R2, MET, with delay. The reduction of the onshore corporate tax rate from 30 to 25 percent and the increase of the off-shore one from 0 to 10 percent was incorporated in the 2014 draft budget along with countervailing measures for the potential revenue loss. The draft budget has been approved by the Council of Ministers on November 18, 2013 and has been adopted by Parliament on December 30, 2013. | 6 | 1 | 2013-07-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.1 | 1.1. Revenue measures, excluding trade policy | Government approval of a new tax code. | 2 | 09/30/2014 | MD | Introduced at R1R2. Objective: Enhance revenue collection. At R4, In progress. All new rules will be included into the new code. At R5, met with delay. All norms and regulations were consolidated in a single text submitted to the ANC in October 2014. | 6 | 2 | 2014-09-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.1 | 1.1. Revenue measures, excluding trade policy | Following national consultations on taxation, adoption of a tax reform plan covering direct and indirect taxes by the Council of Ministers. | 3 | 10/31/2014 | MOD-DATE | Introduced at R4. Objective: Expand the tax base and improve equity. At R5, not met. The national consultations took place in November and validated a reform plan which will be adopted by the Government in December 2014. | 6 | 3 | 2014-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.1 | 1.1. Revenue measures, excluding trade policy | Following national consultations on taxation, adoption of a tax reform plan covering direct and indirect taxes by the Council of Ministers. | 3 | 12/31/2014 | MOD-DATE | At R5, new test date. At R6, Not met. It will be adopted in the context of the 2016 budget. New test date of October 2015 is specified. | 6 | 3 | 2014-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.1 | 1.1. Revenue measures, excluding trade policy | Following national consultations on taxation, adoption of a tax reform plan covering direct and indirect taxes by the Council of Ministers. | 3 | 10/31/2015 | SB | At R6, new test date. | 6 | 3 | 2015-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.1 | 1.1. Revenue measures, excluding trade policy | Adoption by the government of a calendar for the total convergence of the tax rates of onshore and offshore sectors. | 4 | 05/31/2015 | MOD-DATE | Introduced at R5. Objective: Minimize distortions, and tax fairness and simplification. At R6, Not met. Its adoption will follow the ongoing assessment of the revenue impact. New test date of October 2015 is specified. | 6 | 4 | 2015-05-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.1 | 1.1. Revenue measures, excluding trade policy | Adoption by the government of a calendar for the total convergence of the tax rates of onshore and offshore sectors. | 4 | 10/31/2015 | SB | At R6, new test date. | 6 | 4 | 2015-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.2 | 1.2. Revenue administration, including customs | Merge at the level of the large taxpayer unit the management, tax collection, and control of large enterprises. | 1 | 09/30/2013 | MD | Introduced at R0. Objective: Broadening of the tax base. At R1R2, MET, with delay. The different functions have been put together in one unit. | 6 | 1 | 2013-09-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.2 | 1.2. Revenue administration, including customs | Implementation by the Ministry of Finance of a plan to modernize tax administration. | 2 | 03/31/2014 | MOD-DATE | Introduced at R1R2. Objective Enhance revenue administration. At R3, Not MET. Working groups have worked on a draft plan but an overall strategy still needs to be finalized. IMF TA is assisting the authorities. New test date of end-June 2014 is specified. | 6 | 2 | 2014-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.2 | 1.2. Revenue administration, including customs | Implementation by the Ministry of Finance of a plan to modernize tax administration. | 2 | 06/30/2014 | MD | At R3, new test date is specified. Text of condition is also revised from "Implementation" to "Adoption" by the Ministry of Finance. At R4, MET with delay. A plan to modernize tax administration was completed with technical assistance from the IMF and adopted by the Ministry of Finance in August 2014. | 6 | 2 | 2014-06-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.2 | 1.2. Revenue administration, including customs | Creation of a new category of public accountants called "tax collectors". | 3 | 01/31/2015 | NM | Introduced at R5. Objective: Enhance transparency of the tax system and revenue collection. At R6, Not met. A tax collection unit has been set up at the LTU instead. | 6 | 3 | 2015-01-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.4 | 1.4. Combined expenditure and revenue measures | Adoption of the Investment Code (tax measures will be referred to in the tax code). | 1 | 07/31/2013 | MD | Introduced at R0. Objective: Support for balanced growth driven by the private sector. At R1R2, MET, with delay. The new code was approved by the Council of Ministers in November 2013. Next step in this area will be the drafting of the implementation decrees that should accompany ratification by Parliament. | 6 | 1 | 2013-07-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Unification of government accounts into a Single Treasury Account (formulation to be revised for project loans). | 1 | 03/31/2014 | M | Introduced at R1R2. Objective: Public financial management. At R3, met. | 6 | 1 | 2014-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Prepare a consolidated balance of 20 main public enterprises (2010-2012) | 2 | 06/30/2014 | M | Introduced at R1R2. Objective: Improvement of budgetary control and reduce fiscal risks. Better assessment of risks. At R4, MET. A report with the balance sheet for the 28 largest firms was prepared. | 6 | 2 | 2014-06-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Adoption by the Governmment of a strategy for a better monitoring of operations and financial performance of public enterprises. | 3 | 04/30/2015 | MOD-DATE | Introduced at R5. Objective: Reduce fiscal risks. At R6, Not met. Progress has been
made in monitoring public enterprises, but a full fledged strategy is still under preparation. New test date of October 2015 is specified. | 6 | 3 | 2015-04-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Adoption by the Governmment of a strategy for a better monitoring of operations and financial performance of public enterprises. | 3 | 10/31/2015 | SB | At R6, new test date. | 6 | 3 | 2015-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Parliamentary Approval of the 2015 budget. | 1 | 12/31/2014 | M | Introduced at R5. Objective: Fiscal sustainability. At R6, adopted on December 11, 2014. | 6 | 1 | 2014-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Ensure that the proportion of the refinancing volume at the CBT backed by government securities is at least 10 percent for each bank. | 1 | 08/31/2013 | M | Introduced at R0. Objective: Enhancement of the monetary transmission mechanism. At R1R2, MET. The circulaire has been published and the SB has started. | 6 | 1 | 2013-08-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Ensure that the proportion of the refinancing volume at the CBT that is backed by government securities is at least 20 percent for each bank. | 2 | 12/31/2013 | M | Introduced at R0. Objective: Enhancement of the monetary transmission mechanism. At R1R2, MET. The circulaire has been adopted, and the SB will be met at the time of its implementation. At R4, Circular issued in March 2014 and will take effect on January 1, 2015. | 6 | 2 | 2013-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Submission to the Central Bank Board of a draft Central Banking law in line with international practices. | 3 | 06/30/2014 | M | Introduced at R1R2. Objective: Financial sector stability. At R3, In progress. An IMF technical assistance mission is planned for May 2014. At R4, MET. A new central banking law in line with international practices was prepared with technical assistance from the IMF and presented to the CBT board on June 25, 2014. | 6 | 3 | 2014-06-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Development and implementation of the new reporting system and bank classification system. | 4 | 12/31/2014 | SB | Introduced at R1R2. Objective: Financial sector stability | 6 | 4 | 2014-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Presentation to the Central Bank board of the impact study for removing the upper limit for excessive rates for enterprises and to modify it for consumers. | 5 | 03/31/2014 | M | Introduced at R1R2. Objective: Financial system stability and better transmission of monetary mechanisms. At R3, 1MET. The impact study––done with help from the CBT and completed with WB assistance––was presented to the CBT Board on March 26, 2014. | 6 | 5 | 2014-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Implement an increase of the haircut for loans used as collateral for refinancing operations to at least 25 percent. | 6 | 03/31/2014 | MOD-DATE | Introduced at R1R2. Objective: Enhancement of the monetary transmission mechanism. At R3, Not MET. A new regulation has been adopted on March 25, 2014 and its application will be announced for June 2014. New test date of end-June 2014 is specified. | 6 | 6 | 2014-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Implement an increase of the haircut for loans used as collateral for refinancing operations to at least 25 percent. | 6 | 06/30/2014 | M | At R3, new test date. At R4, MET. A new regulation was put in place March 28, 2014 and communicated to the banks. The haircut system is effective since July 1, 2014. | 6 | 6 | 2014-06-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Establishment of the lender of last resort facility. | 7 | 06/30/2014 | MOD-DATE | Introduced at R1R2. Objective: Financial system stability and better crisis management. At R3, In progress. IMF TA is providing assistance. At R4, NOT MET. An interim, “exceptional” system was adopted June 25, 2014. The lender of last resort facility – in line with the bank resolution framework – will be put in place in March 2015. | 6 | 7 | 2014-06-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Establishment of the lender of last resort facility. | 7 | 03/31/2015 | MOD-SB | At R4, new test date. At R5, this condition was modified to "Establishment of the lender of last resort mechanism." with May 2015 test date. | 6 | 7 | 2015-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Ensure that the proportion of the refinancing volume at the CBT backed by government securities is at least 40 percent for each bank. | 8 | 12/31/2014 | M | Introduced at R1R2. Objective: Enhancement of the monetary transmission mechanism. At R5, met. Circular issued in March 2014 and will take effect on January 1, 2015. | 6 | 8 | 2014-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Double the number of DGSB supervisors hired in 2013 and revise the CBT hiring criteria to facilitate the hiring of qualified personnel. | 9 | 11/30/2014 | MOD-DATE | Introduced at R4. Objective: financial sector stability. At R5, not met. Reset to March 2015. | 6 | 9 | 2014-11-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Double the number of DGSB supervisors hired in 2013 and revise the CBT hiring criteria to facilitate the hiring of qualified personnel. | 9 | 03/31/2015 | MOD-DATE | at R5, new test date. At R6, not met. External recruitment competition ongoing. New test date of October 2015 is specified. | 6 | 9 | 2015-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Double the number of DGSB supervisors hired in 2013 and revise the CBT hiring criteria to facilitate the hiring of qualified personnel. | 9 | 10/31/2015 | SB | At R6, new test date. | 6 | 9 | 2015-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Establishment of the lender of last resort mechanism. | 10 | 05/31/2015 | MOD-DATE | At R5, revised text of the structural benchmark "Establishment of the lender of last resort facility." Objective: Financial system stability and better crisis management. At R6, Not met. New test date of November 2015 is specified. | 6 | 10 | 2015-05-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Establishment of the lender of last resort mechanism. | 10 | 11/30/2015 | SB | At R6, new test date. | 6 | 10 | 2015-11-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 21.2 | 2.2. Central bank auditing, transparency, and financial controls | Publication of a circulaire by the CBT that announces a haircut on all loans used as collateral for refinancing operations at the central bank. | 1 | 07/31/2013 | M | Introduced at R0. Objective: Enhancement of the monetary transmission mechanism. At R1R2, MET. The circulaire, which was adopted at end-July, includes a general haircut of 10 percent. | 6 | 1 | 2013-07-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 23.2 | 4.2. Other social sector reforms (e.g., social safety nets, health and education) | Submission to the Council of Ministers of a new targeted household support program to accompany the reform of generalized energy subsidies. | 1 | 08/31/2013 | MOD-DATE | Introduced at R0. Objective: Protection of society's most vulnerable segments. At R1R2, Not MET. The technical work has been done. A decision on the beneficiaries and the compensating mechanism need to be taken. (Pushed to end-March 2014). | 6 | 1 | 2013-08-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 23.2 | 4.2. Other social sector reforms (e.g., social safety nets, health and education) | Submission to the Council of Ministers of a new targeted household support program to accompany the reform of generalized energy subsidies. | 1 | 03/31/2014 | MOD-DATE | At R1R2, new test date. At R3, Not MET. Work is in progress and possible contents of the strategy have been identified. This program will be put in place prior to the planned increase in fuel prices. New test date of end-June 2014 is specified. | 6 | 1 | 2014-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 23.2 | 4.2. Other social sector reforms (e.g., social safety nets, health and education) | Submission to the Council of Ministers of a new targeted household support program to accompany the reform of generalized energy subsidies. | 1 | 06/30/2014 | M | At R3, new test date. At R4, MET. A household support program was put in place July 2014 ahead of the fuel price increase. | 6 | 1 | 2014-06-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 24.2 | 5.2. Privatization, public enterprise reform and restructuring, other than pricing | Finalize the audit of the electricity company (STEG) and of the petroleum refinery company (STIR). | 1 | 12/31/2013 | MOD-DATE | Introduced at R0. Objective: Lower fiscal risks. At R1R2, Not Met. The audit of the three energy companies (STEG, STIR, ETAP) have started. This benchmark has now been pushed to March 2014. | 6 | 1 | 2013-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 24.2 | 5.2. Privatization, public enterprise reform and restructuring, other than pricing | Finalize the audit of the electricity company (STEG) and of the petroleum refinery company (STIR). | 1 | 03/31/2014 | M | At R1R2, new test date. At R3, MET. The First Report was submitted to the Government on March 30, 2014. | 6 | 1 | 2014-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 24.2 | 5.2. Privatization, public enterprise reform and restructuring, other than pricing | Signature of performance contracts for the 5 largest state-owned companies. | 2 | 04/30/2015 | MOD-DATE | Introduced at R5. Objective: Reduce fiscal risks. At R6, not met. New test date of October 2015 is specified. | 6 | 2 | 2015-04-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 24.2 | 5.2. Privatization, public enterprise reform and restructuring, other than pricing | Signature of performance contracts for the 5 largest state-owned companies. | 2 | 10/31/2015 | SB | At R6, new test date. | 6 | 2 | 2015-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 24.3 | 5.3. Price controls and marketing restrictions | Adoption of a Ministry of Industry decree approving a new automatic fuel pricing formula. | 1 | 08/31/2013 | MD | Introduced at R0. Objective: Lower energy subsidies. At R1R2, MET, with delay. An automatic pricing mechanism was put in pace allowing convergence to international prices, but does not allow smoothing for large price increases. | 6 | 1 | 2013-08-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25 | 6. Financial sector | Adoption by the Council of Ministers of the strategic vision of the government's future role in banks, on the basis of the preliminary results from the audit of public banks. | 1 | 09/15/2013 | MOD-DATE | Introduced at R0. Objective: Financial sector stability. At R1R2, NOT MET. Audit of the three banks started in July and September, which is delaying the decision on the strategic vision. The strategic vision has been pushed to March 2014. | 6 | 1 | 2013-09-15 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25 | 6. Financial sector | Adoption by the Council of Ministers of the strategic vision of the government's future role in banks, on the basis of the preliminary results from the audit of public banks. | 1 | 03/31/2014 | MOD-PA | at R1R2, new test date. At R3, this benchmark is made a prior action for completion of R3. | 6 | 1 | 2014-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Approval of the new reporting system architecture covering bank-related accounting, financial, and institutional functions. | 1 | 08/31/2013 | MD | Introduced at R0. Objective: Financial sector stability. At R1R2, MET, with delay. The reporting system was presented in September 2013. This report defines the main principles of the architecture and its conception as well as different phases of the risk model. | 6 | 1 | 2013-08-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | General on-site inspection of one major bank and inspection of the credit risks of four other banks. | 2 | 12/31/2013 | M | Introduced at R0. Objective: Financial sector stability. At R1R2, MET. A credit risk inspection at one bank was completed in September and three others were completed in December. The on-site inspection of one major bank was completed in December. | 6 | 2 | 2013-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Presentation to the board of the CBT of a study concerning the impact on banks of liquidity ratio changes toward international standards. | 3 | 12/31/2013 | MD | Introduced at R0. Objective: Financial sector stability. At R1R2, NOT MET. The templates for collecting needed data for conducting the impact study have been communicated to banks. This is expected to be completed by end-January 2014. At R3, MET, with delay. The templates for collecting the date needed to conduct the impact study have been communicated to banks. The study has been presented to the CBT Board in February 24. | 6 | 3 | 2013-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Submission to the Management of the Central Bank of Tunisia of a banking resolution framework in line with international practices. | 4 | 06/30/2014 | M | Introduced at R1R2. Objective: Crisis management and financial sector stability. At R3, In progress. With help from WB and IMF technical assistance. At R4, MET. A new banking law was prepared with technical assistance from the IMF and World Bank and submitted to CBT management. | 6 | 4 | 2014-06-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Completion of the financial audit of the Banque Nationale Agricole (BNA). | 5 | 07/31/2014 | MOD-DATE | Introduced at R3. Objective: financial sector stability. At R4, In progress. The selection of a new auditor delayed the completion of the BNA audit to end-September 2014. | 6 | 5 | 2014-07-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Completion of the financial audit of the Banque Nationale Agricole (BNA). | 5 | 09/30/2014 | MD | At R4, new test date. At R5, met with delay in November 2014. | 6 | 5 | 2014-09-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Creation of Asset Management Company (AMC) through the publication in the Official Journal of the Law on the AMC. | 6 | 09/30/2014 | MOD-DATE | Introduced at R4. Objective: financial sector stability. At R5, not met. Reset to April 2015. The adoption of Article 4 of the supplementary budget defined the objectives of the AMC. The law granting juridical personality to the AMC could not be adopted before the parliamentary recess and will be adopted in 2015 in the next session of Parliament. | 6 | 6 | 2014-09-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Creation of Asset Management Company (AMC) through the publication in the Official Journal of the Law on the AMC. | 6 | 04/30/2015 | MOD-SB | At R5, modified to "Publication, on the Official Gazette, of the law governing the functioning of the AMC in line with sound international practices, as well as Government adoption of the related implementation decrees." | 6 | 6 | 2015-04-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | All banks, including public banks, to comply with minimum solvency ratio required by the existing regulations (10 percent). | 7 | 12/31/2014 | MOD-DATE | Introduced at R4. Objective: financial sector stability. At R5, not met. The minimum ratio will be met by private banks by end-December 2014, but delayed to May 2015 for public banks, which still have to be recapitalized. | 6 | 7 | 2014-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | All banks, including public banks, to comply with minimum solvency ratio required by the existing regulations (10 percent). | 7 | 05/31/2015 | SB | At R5, new test date. | 6 | 7 | 2015-05-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Development and implementation of the new reporting and rating system for banks. | 8 | 12/31/2014 | MOD-DATE | Introduced at R4. Objective: financial sector stability. At R5, in progress. Work on the new rating and reporting system is in progress with technical assistance from the IMF. At R6, not met. The design of new rating and reporting system has been completed, but it has not been implemented. New test date of November 2015 is specified. | 6 | 8 | 2014-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Development and implementation of the new reporting and rating system for banks. | 8 | 11/30/2015 | SB | At R6, new test date. | 6 | 8 | 2015-11-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Adoption by Parliament of the banking law (that includes a banking resolution framework) in line with sound international practices. | 9 | 03/31/2015 | MOD-DATE | Introduced at R5. Objective: Financial sector stability. At R6, not met. A draft is being discussed within the government. New test date of October 2015 is specified. | 6 | 9 | 2015-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Adoption by Parliament of the banking law (that includes a banking resolution framework) in line with sound international practices. | 9 | 10/31/2015 | SB | At R6, new test date. | 6 | 9 | 2015-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Publication, on the Official Gazette, of the law governing the functioning of the AMC in line with sound international practices, as well as Government adoption of the related implemetation decrees. | 10 | 04/30/2015 | MOD-DATE | Introduced at R5, modified from "Creation of Asset Management Company (AMC) through the publication in the Official Journal of the Law on the AMC." Objective: Financial sector stability. At R6, not met. The government is reworking on it to ensure appropriate governance provisions are in it. New test date of November 2015 is specified. | 6 | 10 | 2015-04-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Publication, on the Official Gazette, of the law governing the functioning of the AMC in line with sound international practices, as well as Government adoption of the related implemetation decrees. | 10 | 11/30/2015 | SB | At R6, new test date. | 6 | 10 | 2015-11-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Adoption by the Government of retructuring plans for the BH and STB. | 1 | 08/31/2014 | MOD-PA | Introduced at R3. Objective: financial sector stability. This structural benchmark is made a prior action for completion of R4. | 6 | 1 | 2014-08-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Adoption by the Government of the BNA restructuring plan. | 2 | 11/30/2014 | NM | Introduced at R4. Objective: financial sector stability. At R5, not met. The audit has been completed, and options for a sound restructuring are being assessed, and presented to the Board of Directors on November 11, 2014. The plan will follow sound international practices once the recapitalization modalities are defined and the restructuring option has been chosen. | 6 | 2 | 2014-11-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Designation of fit and proper Board members of the three public banks, with private sector experience. | 3 | 01/31/2015 | MD | Introduced at R5. Objective: Financial sector stability. At R6, met with delay. New board members were appointed for all three banks. | 6 | 3 | 2015-01-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Adoption of recapitalization plans in line with sound international practices by the general assembly of the three public banks, following the criteria outlined in Annex 1 to the MEFP and based on the results of the audits. | 4 | 03/31/2015 | MOD-DATE | Introduced at R5. Objective: Financial sector stability. At R6, not met. The general assembly of two banks adopted a recapitalization plan. The recapitalization and restructuring plan of the third public bank is still under preparation. The revised business plans will be ready by November 2015. | 6 | 4 | 2015-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Adoption of recapitalization plans in line with sound international practices by the general assembly of the three public banks, following the criteria outlined in Annex 1 to the MEFP and based on the results of the audits. | 4 | 10/31/2015 | SB | At R6, new test date. | 6 | 4 | 2015-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Approval by the Board of Directors of performance contracts in line with norms included in the bank restructuring plans for the STB, BH and BNA and subordinated to the approval of the respective recapitalization plans. | 5 | 03/31/2015 | MOD-DATE | Introduced at R5. Objective: Financial sector stability. At R6, not met. Contracts will be designed after the new banks' management is in place. New test date of 11/15/2015 is specified. | 6 | 5 | 2015-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Approval by the Board of Directors of performance contracts in line with norms included in the bank restructuring plans for the STB, BH and BNA and subordinated to the approval of the respective recapitalization plans. | 5 | 11/30/2015 | SB | At R6, new test date. | 6 | 5 | 2015-11-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 26 | 7. Exchange systems and restrictions (current and capital) | Implementation of an electronic bank interlinking platform and launch of the Market Makers Agreement. | 1 | 10/31/2013 | MOD-DATE | Introduced at R0. Objective: Greater exchange rate flexibility. At R1R2, NOT MET, becdause of technical delays. Work is ongoing and this is a new structural benchmark for mid-March 2014. | 6 | 1 | 2013-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 26 | 7. Exchange systems and restrictions (current and capital) | Implementation of an electronic bank interlinking platform and launch of the Market Makers Agreement. | 1 | 03/15/2014 | M | At R1R2, new test date. At R3, MET. The electronic platform allowing the interconnection with banks and the Market Makers Agreement are now in place. | 6 | 1 | 2014-03-15 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 26 | 7. Exchange systems and restrictions (current and capital) | Implementation of a weekly foreign exchange auction mechanism. | 2 | 12/31/2014 | MOD-DATE | Introduced at R1R2. Objective: Greater exchange rate flexibility. At R5, in progress. The hardware platform has been put in place, and the software will be put in place following IMF TA. At R6, Not met. The hardware platform has been put in place and reforms to develop the market are under way to facilitate the implementation of this mechanism. New test date of October 2015 is specified. | 6 | 2 | 2014-12-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 26 | 7. Exchange systems and restrictions (current and capital) | Implementation of a weekly foreign exchange auction mechanism. | 2 | 10/31/2015 | SB | At R6, new test date. | 6 | 2 | 2015-10-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Decree for implementing the new investment code in line with the objective of protecting market access, reducing restrictions on investments, and rationalizing of incentives. | 1 | 03/31/2014 | MOD-DATE | Introduced at R1R2. Objective: Support for balanced growth driven by the private sector. At R3, Not MET. Implementation decrees will be finalized once the investment code is ratified by Parliament. New test date of end-September 2014 is specified. | 6 | 1 | 2014-03-31 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Decree for implementing the new investment code in line with the objective of protecting market access, reducing restrictions on investments, and rationalizing of incentives. | 1 | 09/30/2014 | MOD-SB | At R3, new test date. At R4, The decrees will not be submitted to Parliament because the government decided to withdraw the draft law on the investment code from parliament; New measures for investment promotion will be taken. They will eventually be included in the new code. At R5, not met and modified to "Revision of the new investment code in line with the objective to protect market access, reduce investment restrictions, and rationalize exemptions." The decrees will not be submitted to Parliament because the government decided to withdraw the draft law on the investment code from parliament; a revised code will be prepared by May 2015. | 6 | 1 | 2014-09-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Revision of the new investment code in line with the objective to protect market access, reduce investment restrictions, and rationalize exemptions. | 2 | 04/30/2015 | MOD-DATE | At R5, modified from "Decree for implementing the new investment code in line with the objective of protecting market access, reducing restrictions on investments, and rationalizing of incentives."
| 6 | 2 | 2015-04-30 | N/A | N/A | N/A | N/A |
699 | TUNISIA | 744 | SBA | 2013-06-07 | 2,013 | 2015-06-06 | 2,015 | 2015-12-31 | N/A | N/A | 2015-09-30 | P1 | R6 | L | SB | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Revision of the new investment code in line with the objective to protect market access, reduce investment restrictions, and rationalize exemptions. | 2 | 11/30/2015 | SB | At R6, a modified or revised text of a prevision structural benchmark. Objective: Support for balanced growth driven by the private sector. Test date revised from Apr 30 2015 to current date
| 6 | 2 | 2015-11-30 | N/A | N/A | N/A | N/A |
735 | TUNISIA | 744 | EFF | 2016-05-20 | 2,016 | 2020-05-19 | 2,020 | N/A | N/A | N/A | 2016-05-20 | P1 | R0 | E | PA | 20.1 | 1.1. Revenue measures, excluding trade policy | Adoption, by the Council of Ministers, of the comprehensive tax reform strategy, in line with the principles of fairness and efficiency agreed with IMF staff. | 1 | Program Prior Action | M | Introduced at R0. Objective: Fiscal sustainability and fairness. | 0 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
735 | TUNISIA | 744 | EFF | 2016-05-20 | 2,016 | 2020-05-19 | 2,020 | N/A | N/A | N/A | 2016-05-20 | P1 | R0 | E | PA | 25 | 6. Financial sector | Adoption, by the Assembly, of the People's Representatives (ARP), of the CBT law, the banking law, and the bankruptcy law in line with good international practices. | 1 | Program Prior Action | M | Introduced at R0. Objective: Ensure financial sector stability, modernize monetary regimes, and support inclusive growth and job creation. | 0 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
735 | TUNISIA | 744 | EFF | 2016-05-20 | 2,016 | 2020-05-19 | 2,020 | N/A | N/A | N/A | 2016-05-20 | P1 | R0 | E | PA | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Approval, by banks' boards, of the updated business plans for all three public banks. | 1 | Program Prior Action | M | Introduced at R0. Objective: Financial sector stability | 0 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
735 | TUNISIA | 744 | EFF | 2016-05-20 | 2,016 | 2020-05-19 | 2,020 | N/A | N/A | N/A | 2016-05-20 | P1 | R0 | E | SB | 20 | 1. General government | Completion of the functional review of four ministries (Health, Education, Finance, and Infrastructure). | 1 | 12/31/2016 | SB | Introduced at R0. Objective: Fiscal sustainability and quality public services. | 0 | 1 | 2016-12-31 | N/A | N/A | N/A | N/A |
735 | TUNISIA | 744 | EFF | 2016-05-20 | 2,016 | 2020-05-19 | 2,020 | N/A | N/A | N/A | 2016-05-20 | P1 | R0 | E | SB | 20.2 | 1.2. Revenue administration, including customs | Establishment of a Large Taxpayers Unit to include formal responsibility for the major tax and enforcement functions (return processing, taxpayer advisory services, and audit). | 1 | 12/31/2016 | SB | Introduced at R0. Objective: Social protection and fairness. | 0 | 1 | 2016-12-31 | N/A | N/A | N/A | N/A |
735 | TUNISIA | 744 | EFF | 2016-05-20 | 2,016 | 2020-05-19 | 2,020 | N/A | N/A | N/A | 2016-05-20 | P1 | R0 | E | SB | 20.5 | 1.5. Debt Management | Adoption of a medium-term debt strategy. | 1 | 12/31/2016 | SB | Introduced at R0. Objective: Debt sustainability and deepening of financial markets. | 0 | 1 | 2016-12-31 | N/A | N/A | N/A | N/A |
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