ADVERTISEMENT

Parliament to debate law on central bank autonomy

Five years after the uprising, Tunisia is still working through a raft of reforms to help bolster the economy, create jobs and cut back on the public spending its lenders see as a major challenge to growth.

Tunisia parliament to debate law on central bank autonomy: source

Tunisia's government will ask parliament next month to strengthen central bank autonomy to shield it from political interference, a reform sought by international lenders, a central bank source said.

After the 2011 uprising that ousted President Zine El-Abidine Ben Ali, Tunisia's central bank governor clashed with the government over its attempts to intervene in monetary policy and was sacked in 2012 over those disagreements.

According to draft legislation seen by Reuters, the central bank will not take instructions from the government and will have absolute control over monetary policy, currency reserves and gold reserves.

Currently in Tunisia, there is no law prohibiting the government from seeking to intervene in central bank policy or making demands on reserves.

ADVERTISEMENT

"The goal is to establish a modern central bank and good monetary governance and avoid any possible political bickering or demands to impose certain monetary policies regardless of the economic trend for the next government," said the central bank official familiar with the bill.

The draft does include a clause allowing the government to form a committee to scrutinise the central bank in case of any suspicions of corruption or criminal misdoing.

The legislation, prepared with International Monetary Fund support, includes a new central bank committee which could issue recommendations to the government on how to handle the impact of global economic problems.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Wike thanks Tinubu for the opportunity to serve

Wike thanks Tinubu for the opportunity to serve

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Court grants senator accused of forging NYSC certificate ₦50m bail

Court grants senator accused of forging NYSC certificate ₦50m bail

BREAKING: Delta monarch declared wanted by military surrenders to police

BREAKING: Delta monarch declared wanted by military surrenders to police

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT