Developing and implementing a strategy to deal with outstanding debt over a period of five years, starting from 2022, is a new challenge for banks and financial institutions, said Finance Minister Sihem Boughdiri Nemsia.
Speaking at a workshop on: «Resolving outstanding debt: new regulatory framework and challenges,» the minister urged these institutions to reach the indicators recorded by the countries of North Africa and the Middle East (MENA), through reducing the rate of outstanding debt.
she said circular N°1 of 2022 of the Central Bank of Tunisia (BCT), relating to the prevention and resolution of outstanding debt, represents a continuation of the reforms undertaken by the sector.
Nemsia stressed the major role of the banking and financial sector in the economic cycle and in financing investments, in addition to the need to ensure its security.
The banking sector can be secured through strengthening the solvency of the financial situation of banks and resolving outstanding debt, especially since banks have been the subject of several reforms since 2011.
The banking sector reform project is based on a comprehensive audit of public banks, the development of restructuring programmes and the promulgation of the law on consolidation of financial solvency, in addition to the measure on simplifying the cancellation of uncollected debts of banks and financial institutions.
