Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Tunisia’s Saied moves on economy and COVID-19 after dismissing govt

2021 07 28T171459Z 1 LYNXMPEH6R1ER RTROPTP 4 TUNISIA POLITICS - Global Banking | Finance

By Tarek Amara

TUNIS (Reuters) -Tunisia’s president said on Wednesday he was addressing the dire economic and COVID-19 situation and probing widespread corruption after invoking emergency powers on Sunday to seize control of government in a move his foes called a coup.

Saied justified the moves, which included dismissing the prime minister and suspending parliament, by citing a surging pandemic and misgovernance, saying he had acted to save the country from corruption and plots to sow civil strife.

Public anger had been growing in Tunisia over the political paralysis that had stopped any coherent response to the pandemic and after years of economic hardship and declining public services.

France said on Wednesday it was paramount that Saied quickly name a new prime minister and cabinet, while civil society groups including the powerful labour union have said he must produce a roadmap to exit the crisis within a month.

A decade after ending autocratic rule through a popular uprising, Tunisia faces the sternest test yet to its democratic system and Western countries that have applauded its political transition have expressed concern.

Saied, who says his actions are constitutional but has yet to set out his next steps, has been urged by the United States to stick to democratic principles. He met security chiefs on Wednesday, the presidency said.

Backed by the army, Saied’s actions included suspending parliament for 30 days. Opponents including the Islamist Ennahda party, parliament’s biggest, have accused him of a power grab.

On Wednesday he replaced the head of the television station after an incident in which two guests on a current affairs programme said they had been denied entry to the building.

The United States on Monday pressed Tunisia to maintain “scrupulous respect for freedom of expression” after police raided a foreign news bureau, but on Wednesday a New York Times reporter said police had detained her for two hours when out working in Tunis.

JUDICIAL PROBE

Late on Wednesday the presidency published a video showing Saied telling the head of a business union that “wrong economic choices” had caused major financial problems.

Tunisia is seeking a loan agreement from the International Monetary Fund to finance its projected budget deficit and debt repayments.

Saied in the video called on traders to reduce prices of goods and warned them against speculating or hoarding. He also targeted business figure accused of corruption, saying that 460 people had stolen 13.5 billion dinars ($4.8 billion) of public money.

The judiciary had earlier said it was investigating the two biggest parties in parliament, Ennahda and Heart of Tunisia, on suspicion of receiving foreign funds during the 2019 election campaign.

The judiciary, widely seen in Tunisia as independent from politics, said its investigation started 10 days before the president’s moves.

Ennahda, a moderate Islamist party that has become the focal point of opposition to Saied’s seizure of powers after its leader parliament speaker Rached Ghannouchi accused him of conducting a coup, denied committing any violations.

Heart of Tunisia could not be reached for comment.

Though Ennahda called on Sunday for supporters to come out on the streets against Saied’s actions, it has since called for calm and sought national dialogue.

There was no sign of protests or other disturbances on Wednesday, although a heavier security presence was in place in central Tunis. The army also remains at the parliament, government and television buildings it surrounded on Sunday.

Saied reiterated a long-standing rule banning gatherings of more than three people in public, but there was no sign it was being enforced as people moved and gathered normally.

Saied has also tightened some existing COVID-19 restrictions including a nightly curfew and ban on travel between cities.

On Wednesday he issued orders to set up a pandemic response centre to coordinate Tunisia’s handling of the COVID-19 crisis, the presidency said.

(Reporting by Tarek Amara; Additional reporting by Dominique Vidalon in Paris; Writing by Angus McDowall and Tom Perry; Editing by Emelia Sithole-Matarise, Alison Williams and Richard Pullin)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post