Governor, Central Bank Taoufik Baccar of Tunisia

Full Article The Finance Minister since April 22, 1999, Baccar was previously minister of economic development.
Baccar was made economic development minister in 1995 to replace Kamel Nabi.
The Finance Minister since April 22, 1999, Baccar was previously minister of economic development.
Tunisian Minister of Development Taoufik Baccar said today that Tunis intends to privatize three of the four cement factories still owned by the public sector.
Taoufik BACCAR leads the Tunisian delegation.
Taoufik BACCAR received on Monday 19 December 2005 a mission from the International Monetary Funds (IMF) led by Mr.
Taoufik BACCAR received on Thursday 1st December 2005, a delegation from the European Investment Bank (EIB) led by the Vice-President of this institution Mr.
Taoufik BACCAR expressed in this context, his hope in the EIB support of reinforcement of financial soundness of the lending institution and in exploring other paths with a view to contributing to capital stock in financial institutions, notably, through subordinated debts.
On the other hand, Mr Taoufik BACCAR had discussion with the departments of the IMF, during which he presented the latest evolutions of the Tunisian economy and first estimates with respect to 2005 financial year as well as projections for 2006.
During the meeting, Baccar said that Tunisia will follow up on the reforms in its banking sector, and that it will work towards the creation of an off shore financial harbour so as to attract international financial companies to become a regional financial hub.
Analysing the origins of the current crisis, Mr Baccar said that the choices made by Tunisia by opting for a gradual convertibility of the dinar and the universal bank, had strengthened the country’s banking system.
Tunis, October 10, 2008- During a press conference, held Friday in Tunis, the Governor of the Tunisian Central Bank, Mr Taoufik Baccar said that “the factors that have caused the current international financial crisis do not exist in Tunisia.
Mr Baccar said the situation in Tunisia is marked by low reliance on house loans whose rate does not exceed 10% of the GDP, as opposed to 87% in the US.
Concerning Tunisia’s foreign placements, Mr Baccar said that “no opposition was recorded on those placements”, which can be explained by the fact that these placements are usually done through the Central Bank itself.
Baccar expressed his pleasure at having Bank of Valletta among the exhibitors and commended BOV for the way it had integrated within the financial sector in Tunisia since the opening of the BOV representative office two years ago.