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The Jasmine Revolution of was the first in a series of democratic uprisings that extended to a number of North African and Middle Eastern countries, in what became known collectively as the Arab Spring. Earlier this month, Tunisia’s new unicameral parliament held its inaugural session at the nation’s capital. Although the landmark transition towards a new republic has been fraught, a novel, egalitarian constitution was adopted, while a majority of the other participating nations deteriorated into extremism.
Political stability needs to be coupled with economic security. While unemployment in the North African nation has reached a precarious point, at , prospects of a financial boost from across the ocean seem promising. to open trade negotiations that could result in a mutual import tax reduction. exported goods worth $290.6 million to Tunisia and imported a total of $136.8 million from the North African nation. The country’s stronger industries include crude petroleum, textiles, and .
Neutral intergovernmental bodies such as the have also reinforced Tunisia’s transition towards political freedom. The . The fifth installment of a loan program of $1.74 billion from June 2013 by the IMF to support country’s transformation, this payment is contingent upon an agenda of reducing energy subsidies and a controlled wage bill in the public sector.
Hopefully, as the world enters a new year we shall see democracy flourish in . However, increasing local, regional, and international confidence of investment in North Africa is imperative to nurture republicanism and pragmatism for the still-fragile region. Political stability needs to be coupled with economic security.
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