The governor of Tunisia’s central bank said his country was back in business, welcoming back investors and would instill transparency as he attempted to allay any fears about commerce there.
Mustapha Kamel Nabli, appointed governor of the country’s central bank earlier this week, said on the sidelines of the World Economic Forum on Saturday that the mere fact he was there was a clear indication that “things are under control economically”.
He pledged that corruption and cronyism in the North African nation would be replaced by transparency.
It has been two weeks since the North African nation ousted longtime strongman President Zine al-Abidine Ben Ali, who fled to Saudi Arabia on January 14 after 23 years in power.
“Tunisia has gone through a major transition over the last two weeks and we have gone a long way,” Nabli said. “I think we are coming out in a quite good situation. … Democracy is taking root even given the lack of democratic traditions in the country.”
Many protesters had been angry over the lack of jobs, corruption and repression under Ben Ali, but Nabli emphasised that security conditions in the country were returning to normal. He said some political demonstrations were to be expected, and they were welcome because they were allowing people to express themselves again.
‘Stability is coming back’
“Revolutions always create some instability. It is the way you deal with them and the way you resolve them that is important,” Nabli told reporters. “We think it is an ongoing process and the stability is coming back. We think it will be consolidated in the next weeks and months.”
Nabli said that even in the midst of major change, Tunisia’s financial system was stable and the central bank was providing the liquidity needed by the economy. He said some businesses had been disrupted but officials expected it to be transitory.
“I would like to convey this message to investors, that the country is back to business. … It is going to be a much more favourable business environment. Democracy is good for investors. It is good for investment because democracy brings the rule of law,” he added.
Tunisia’s new interim Cabinet, its second in 10 days, is a caretaker government intended to prepare for elections in six to seven months.
The new Cabinet includes 12 new ministers and nine holdovers from the prior interim government that had been named on January 17.
Nabli said despite the recent protests, it was not something that would deter investment or commerce.
“It does not worry me that people protest, that is part of democracy. But, it is really [important] that people start going back to work, and people are, almost everywhere, people are back to work,” he said. “Public services are being delivered, people are doing their daily business almost normally.
“And protests, they will continue, so fine, we don’t see any problem with that.” – Sapa-AP