Tunisia-BCT Board of Directors decides to remain in open session and rejects the law of economic recovery

The Board of Directors of the Central Bank of Tunisia (BCT) declared today Friday, July 23 that it has held an extraordinary remote meeting which was dedicated to the examination of Bill 104 of 2020 relating to to the revival of the economy and the regularization of currency offences, which was approved by the House of the Representatives of the People on July 12, 2021.

The Council emphasised that while supporting the necessity to adopt a policy to revive the economy, and following an in-depth debate on the provisions of this bill as well as the ups and downs and steps of its development, It was remarked that this project directly affects the principles and action mechanisms of the BCT as well as the fulfilment of the objectives for which it is directly accountable, in accordance with the legislation in force.

In this context, it was seen that the bill includes measures expected to hinder the proper conduct of monetary policy and affect Tunisia’s international engagements and its ability to proceed to mobilize the required external funds, in addition, it raises issues of implementation, indicates the Council.

To this end, the Council calls for greater coordination between the different stakeholders with regard to economic and financial measures, given the prevailing sensitivity of this area, within the framework of a global approach adjusted to the context of the economic and financial situation of our country.

In view of the importance of this issue, the Council decided to remain in session pending the outcome of the continuous constitutional and legal proceedings relating to this bill.