Summary:

On 15 February 2024, President Kais Saied swore new Central Bank Governor Fethi Zouhair Nouri into office, marking a key transition in leadership at a vulnerable economic moment. 

Nouri replaces Marouane El Abbassi as Central Bank governor after Abassi served in the role for a single six-year term, beginning in February 2018. 

Nouri was most recently a university professor, with expertise in energy-related issues. Since 2016, Nouri has sat on the Board of Directors of the Central Bank. He also has a history of serving in senior advisory roles, including with the Economic Analysis Council and the Financial Market Council. 

Outlook: 

Nouri takes the helm of the Central Bank mere days after a controversial law was adopted by Parliament that will allow the Central Bank to purchase treasury bonds, thereby funding the government’s repayment of sovereign debt. There will be significant scrutiny of the implementation and impact of this policy decision. 

Furthermore, the issue of Central Bank neutrality has been raised frequently in recent months, with commentators raising concerns about efforts by President Kais Saied to limit the independence of the institution. Nouri will undoubtedly face ongoing scrutiny over the same issue as he works to help chart a course toward Tunisia’s economic recovery. 

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