Governor of Central Bank of Tunisia fired: reports

It was reported today (June 27) that the president of Tunisia, Moncef Marzouki, had decreed that the governor of the Central Bank of Tunisia, Mustapha Kamel Nabli, be removed from his post following a dispute over economic policy.

Newswire Reuters said the decision had been made "in agreement with the prime minister", and had been referred to the constituent assembly, which is the temporary government in place in the country following the revolution there, for approval.

Nabli, the former chief economist for Middle East and North Africa at the World Bank, took over as governor of the central bank following the overthrow of president Zine al-Abidine Ben Ali, amid rumours that the deposed ruler's wife had left the country with 1.5 tonnes of the central bank's gold. The central bank denied the theft had taken place.

Since the anti-government protests that caused the collapse of the government, the Tunisian economy has struggled to cope. In August 2011, the executive board of the central bank said "sharp regression" in mining and tourism meant an "ongoing follow-up of the economic situation" in the country was necessary.

By December, the cracks in relations between the government and the central bank were becoming obvious when the board of directors at the Bank called a special meeting to discuss continuing economic difficulties in the country. Following the meeting, a direct plea was made for government action to "restore confidence and revive economic activity and employment" in Tunisia.

The board also called for the independence of the central bank to be formalised by law. This was not done and government involvement in inflation targeting has more recently caused conflict.

A decision from the constituent assembly is expected within days.