Premier Seeks New Tunisia Central Banker Ahead of Bond SaleSource: www.export-egypt.com 2/7/2018, Location: Africa |
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Economics professor El Abbasi is set to replace Ayari
Tunisian authorities are struggling to revive the economy
The city skyline of Tunis, Tunisia. Photographer:
Trevor Snapp Tunisia’s prime minister is seeking to replace the central bank chief weeks after mass protests erupted over deepening economic hardship, possibly complicating a planned international bond sale. Youssef Chahed has asked President Beji Caid Essebsi to replace governor Chedly Ayari with Marouane El Abassi, according to an emailed cabinet statement . Abbasi, an economics professor, was appointed World Bank representative in Libya in 2010, and has advised Tunisia’s ministries of trade and tourism, according to the World Bank’s website. The shakeup may lead to a delay in a billion-dollar eurobond sale scheduled for next week -- an injection that will help the cash-strapped government try to juggle reform goals and Tunisians’ mounting impatience with economic pressures. Ayari and Finance Minister Ridha Chelghoum were scheduled to lead the marketing trip to London, Paris and Berlin, and the government hasn’t said if that will change. “I think the timing is pretty bad. It sends a very bad signal,” said Riccardo Fabiani, senior analyst for the Middle East and North Africa at the New York-based Eurasia Group. “I wouldn’t be surprised if they decided to postpone the sale, also given what is going on in international markets.” Tunis-based economist Ezzeddine Saidane predicted the sale would be postponed, and said a delay “will also have serious implications for the foreign currency reserves of the country and the ability of Tunisia to pay its debts.” |
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