Fethi Zouhair Nouri, Governor of the Central Bank of Tunisia (BCT), received, on Thursday, July 4, 2024, a high-level delegation from the African Development Bank (AfDB), led by Kevin Chika Urama, Chief Economist and Vice President for Economic Governance and Knowledge Management. During this meeting, the two officials had constructive discussions on several aspects of cooperation, including capacity building and the presentation of the African Financial Stability Mechanism (AFSM) project.
Mr. Nouri and Mr. Urama confirmed their institutions’ commitment to working closely together to promote financial stability and inclusive growth. They expressed optimism about the prospects for collaboration between the BCT and the AfDB, aimed at strengthening Tunisia’s economic resilience and encouraging sustainable growth.
Discussions also focused on the benefits of enhanced cooperation in the academic field, as well as the opportunities offered by the AfDB to strengthen the capacities of African institutions. Mr. Urama presented the bank’s initiatives, such as the Public Finance Management Academy and the Macroeconomic Policy Management Academy, aimed at improving the skills of professionals in the economic and financial sector in Africa. He stressed that Tunisia could benefit from the AfDB’s mechanisms relating to climate resilience, such as the African Natural Resources Management and Investment Center.
For his part, Mr. Nouri stressed the importance of establishing mechanisms for the transfer and sharing of knowledge to develop human resources, which he described as ” the real wealth of our countries .” He also welcomed the potential support of the AfDB to help Tunisia in its efforts to green its economy and promote sustainable development, particularly through green finance initiatives.
A focal point of the meeting was the ambitious AFSM (African Financial Stability Mechanism) project, presented by the AfDB delegation. This project aims to provide significant opportunities for African countries, including Tunisia, to face the challenges of financing economic growth. Discussions explored the implications and governance strategies, as well as ways to optimize the impact of this mechanism on the continent’s economies.
Mr. Nouri described the initiative as “ relevant ” in a context where traditional sources of international funding are showing signs of scarcity. He expressed enthusiasm for the possibilities offered by the AFSM, highlighting its potential to enrich and complement existing funding mechanisms.
The two officials stressed the need for strengthened collaborations between African financial institutions to develop shared solutions to common challenges. Mr. Nouri reaffirmed the BCT’s commitment to play a catalytic role in joint projects and initiatives of African central banks, particularly in terms of sharing expertise in the field of central banking.
This meeting, which took place in the presence of senior officials of the BCT as well as several eminent members of the AfDB, marks a significant step in the strengthening of bilateral relations and opens the way to new opportunities for collaboration for the economic and financial development of Tunisia and Africa.
This meeting was attended by Mrs. Malinne Blomberg, Deputy Director General for North Africa and Country Manager for Tunisia and Audrey Chouchane, Chief Economist as well as Mr. Désiré Vencatachellum, Senior Director of the Country Economics Department, Jacob Oduor, Chief Economist, Eric Ogunleye, Director of the African Development Institute (ECAD) and Rachidi Kotchoni, Principal Country Economist for Tunisia and with the participation of senior executives of the BCT.
