Financial Sector Reforms in Algeria, Morocco, and Tunisia: A Preliminary Assessment

Abdelali Jbili

No 1997/081, IMF Working Papers from International Monetary Fund

Abstract: This paper reviews and assesses the financial sector reforms in Algeria, Morocco and Tunisia. After a description of the financial sector before reforms, it explains the main features of the comprehensive reform process in each country. It also reviews the sequencing of reforms and discusses econometric evidence of the impact of the reforms on saving in each of the three countries. Subsequently, the paper sets out remaining issues to be addressed in the three countries, including a further strengthening of the banking system and development of financial instruments and markets.

Keywords: WP; market; Tunisia; Morocco; Algeria; interest rate; central bank; system of bank intermediation; interest rate liberalization; market participant; cost of capital; government savings; world goods market; development bank; market condition; market development; market financing; distorted market signal; Financial sector reform; Real interest rates; Credit; Stock markets; Financial sector; Maghreb (search for similar items in EconPapers)
Pages: 38
Date: 1997-07-01
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