Arab Today, arab today world bank extunisian leader family milked economy
Last Updated : GMT 18:46:53
Arab Today, arab today
Arab Today, arab today

World Bank: Ex-Tunisian leader, family milked economy

Arab Today, arab today

Arab Today, arab today World Bank: Ex-Tunisian leader, family milked economy

Washington - AFP

Companies controlled by ousted Tunisian president Zine El Abidine Ben Ali and his family garnered 21 percent of all his country's private sector profits, according to a new World Bank report. The report, released Thursday, depicted the huge extent to which the Tunisian strongman of 24 years took control of much of the country's economy and enriched his family, feeding the resentment that led to the 2011 uprising against him. It also shows how Ben Ali established and manipulated regulations for companies and investment that were structured to benefit his own family firms, allowing them to milk the economy. The regulations were "a smokescreen for extraction of rents," said Bob Rijkers, lead author of the study, in a statement. The Ben Ali regime, which ran from 1987 to 2011, was seen by outsiders as progressive toward business and investment relative to Tunisia's Arab and African neighbors. The World Economic Forum regularly ranked the country as Africa's most competitive economy, and Tunisia was heralded by the International Monetary Fund as a model for others. But the study contradicts that view. "Tunisia's openness was largely a mirage, with large sectors of the economy closed, and many of these captured by interests close to the regime," the bank said. The "pro-business" legislation implemented by Ben Ali "often served to carve out and protect clan interests from competition." "This study provides compelling confirmation that the former regime benefited from crony-capitalism," said Rijkers. The study identified 220 companies controlled by the former president and his family, which accounted for around three percent of all output from Tunisia's private sector. They were in telecommunications, the cement industry, automobiles, sugar, airlines, real estate, the food industry, and hotels and restaurants. In general, the Ben Ali firms were larger and more profitable, and employed more people, than their rivals in the same sectors, taking advantage of regulations issued by the regime. In business areas where they did not have a regulatory advantage or protection from competition, Ben Ali firms were significantly less profitable than competitors, it said. The key difference in success were the regulations on businesses and investment instituted by the regime, which were designed to help the Ben Ali companies. By taking advantage of such regulations, the study concluded, "a very small group of connected entrepreneurs was able to amass a large portion of Tunisia's wealth."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank extunisian leader family milked economy Arab Today, arab today world bank extunisian leader family milked economy

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday