Fethi Zouhair Nouri Receives High-Level Delegation from the African Development Bank
Fethi Zouhair Nouri, Governor of the Central Bank of Tunisia (BCT), received 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, on Thursday. The meeting was marked by fruitful discussions on various avenues of cooperation, including capacity building and the presentation of the African Financial Stability Mechanism (AFSM) project.
Nouri and Urama reiterated their institutions' commitment to working together to promote financial stability and inclusive growth. They expressed their optimism about the prospects for future collaboration between the BCT and the AfDB, aiming to strengthen Tunisia's economic resilience and promote sustainable growth.
Academic Collaboration Prospects
The discussions also focused on the benefits of consolidating academic relations and capacity-building opportunities for African institutions with the support of AfDB structures. Urama presented the mechanisms proposed by the continental bank, such as the Academy of Public Finance Management and the Academy of Macroeconomic Policy Management. These initiatives aim to improve the skills and knowledge of economic and financial professionals in Africa. Tunisia, he suggested, could benefit from the AfDB's climate resilience mechanisms, such as the African Natural Resources Management and Investment Centre. Nouri emphasized the importance of establishing knowledge transfer and sharing instruments that can develop human resources, "the true wealth of our countries," while highlighting the contribution of these mechanisms to supporting Tunisia's ambition to green its economy and promote sustainable development. "The BCT is working with several donors on strategic projects for innovative and sustainable solutions, including skills development and green finance, and the AfDB's support is appreciated in this regard," he specified.
AFSM: An Ambitious Project
The two leaders explored ways to maximize African resources to support the continent's economies. In the face of the challenge of financing growth, the AfDB delegation presented the AFSM project, which aims to provide significant opportunities and benefits for African countries, including Tunisia.
The exchanges allowed for exploring the numerous advantages and potential implications of AFSM for African countries. They also discussed governance strategies, financing mechanisms, and ways to maximize the impact of this mechanism on the continent's economies.
In this regard, Nouri considered the idea "pertinent" in a context where international financing sources are dwindling, and expressed his enthusiasm for the project, noting that if implemented, it would "enrich and compete with traditional financing mechanisms."
Towards Mutualized Solutions
The two officials also stressed the need for close collaboration between African financial institutions to promote mutualized solutions to common problems.
Nouri reaffirmed the BCT's willingness to play a catalyzing role in common projects and initiatives among African central banks. "Initiatives to facilitate expertise exchange in central banking are currently being developed," he specified.
This approach marks an important step in strengthening relations between the BCT and its counterparts, opening the way to new opportunities for collaboration in economic and financial development in Tunisia and Africa.
The meeting was attended by Malinne Blomberg, Deputy General Manager for North Africa and Country Manager for Tunisia, Audrey Chouchane, Chief Economist, Désiré Vencatachellum, Principal Director of the Country Economics Department, Jacob Oduor, Chief Economist, Eric Ogunleye, Director of the African Development Institute (ECAD), Rachidi Kotchoni, Country Economist for Tunisia, and senior officials from the BCT.