Abbas Tolli
{{Short description|Economist}}
{{Resume-like|date=October 2024}}
{{Infobox officeholder
| name = Abbas Mahamat Tolli
| image = File:Abbas Mahamat Tolli.jpg
| office1 = Bank of Central African States
| order1 = 5th Governor of
| term_start1 = 6 February 2017
| term_end1 = 6 February 2024
| successor1 = Yvon Sana Bangui
| predecessor1 = Lucas Abaga Nchama
| vicegovernor1 = Dieudonné Evou Mekou
Michel Dzombala
| office2 = Minister of Finance and Budget of Chad
| term_start2 = 2005
| term_end2 = 2008
| successor2 = Ngeyam Djaibe
| predecessor2 = Gata Ngoulou
| birth_place = Abéché, Chad
| birth_date = April 1972
}}
Abbas Mahamat Tolli is an economist who served as the 5th Governor of the Bank of Central African States from February 2017 to February 2024.
Background and education
Tolli was born in Abéché, Chad, in 1972.{{Cite web |date=2016-10-14 |title=BEAC : Lumière sur Abbas Mahamat Tolli, le prochain gouverneur |url=https://afrique.latribune.fr/decideurs/etats-majors/2016-10-13/lumiere-sur-abbas-mahamat-tolli-prochain-gouverneur-de-la-beac.html |access-date=2024-09-19 |website=La Tribune |language=fr}} He holds a degree in Business Administration from the University of Quebec.{{citation needed|date=October 2024}}
Career
- 2001-03: Director-General of the Customs Department
- 2003-05: Director, Office of the President
- 2005 Secretary of State for Finance
- 2005-08: Minister of Finance and Budget of Chad
- 2008-10: Secretary-General, BEAC
- 2011-12: Minister of Infrastructure
- 2012: Secretary-General, COBAC. Tolli oversaw the introduction of a new IT master plan, as well as introducing new banking regulations, notably new capital requirements{{Cite web |date=March 8, 2016 |title=REGLEMENT COBAC R-2016/03 RELATIF AUX FONDS PROPRES NETS DES ÉTABLISSEMENTS DE CREDIT |url=https://www.beac.int/wp-content/uploads/2016/10/reglement_cobac_r-2016_03_relatif_aux_fonds_propres_nets_des_etablissements_de_credit.pdf |access-date=September 13, 2024 |website=Banque des États de l'Afrique Centrale}} and new internal control procedures.{{Cite web |date=March 8, 2016 |title=REGLEMENT COBAC R-2016-04 RELATIF AU CONTRÔLE INTERNE DANS LES ÉTABLISSEMENTS DE CREDIT ET LES HOLDINGS FINANCIERES |url=https://www.beac.int/wp-content/uploads/2016/10/reglement_cobac_r-2016_04_relatif_au_controle_interne.pdf |access-date=September 13, 2024 |website=Banque des États de l'Afrique centrale}}
- 2015-16: President, BDEAC: in 2015, the regional bank supervisor, the COBAC, conducted an audit that showed that the Bank's resources were insufficient to meet its loan commitments.{{Cite web |last=Mbadi |first=Omer |date=March 1, 2016 |title=Afrique centrale : la BDEAC sommée de se réformer |url=https://www.jeuneafrique.com/mag/303878/economie-entreprises/afrique-centrale-bdeac-sommee-de-se-reformer/ |access-date=2024-09-19 |website=JeuneAfrique.com |language=fr-FR}}{{Cite web |title=Afrique centrale : la BDEAC sommée de se réformer - Jeune Afrique.com |url=https://www.jeuneafrique.com/mag/303878/economie-entreprises/afrique-centrale-bdeac-sommee-de-se-reformer/ |access-date=2024-09-13 |website=JeuneAfrique.com |language=fr-FR}} An interim action plan was approved by the BDEAC Board of Directors in December 2015. The Action Plan included the modernization of the BDEAC's software and accounting systems; a capital increase; modernizing the governance structure and recruiting new staff; and a focus on loan collections.{{Cite web |date=September 19, 2024 |title=Central African States Development Bank Annual Report 2015 |url=https://www.bdeac.org/upload/docs/application/pdf/2017-05/bdeac_ra2015-ang-v9_ok.pdf |access-date=September 19, 2024 |website=BDEAC.org |page=21}}
- 2017-24: Governor, BEAC: When Tolli assumed office, the BEAC's international reserves were low, member countries were in recession, and there was some discussion of the possible need for a devaluation of the CFA franc.{{Cite web |date=September 19, 2024 |editor-last=Nsom |editor-first=Blaise Eugene |title=Annual Report 2017 |url=https://www.beac.int/wp-content/uploads/2020/09/Rapport-annuel-BEAC-2017-VA_compressed.pdf |access-date=September 19, 2024 |website=BEAC.int |pages=13–17}} An operational audit in 2017 laid the groundwork for a reform plan, implemented in the succeeding years, covering monetary operations, macroeconomic management, financial sector reform, and internal management.{{Cite web |date=September 19, 2024 |editor-last=Mounkala |editor-first=Evrard Ulrich |title=Annual Report 2020 |url=https://www.beac.int/wp-content/uploads/2023/11/Annual-Report-2020-maj-21-09-23_compressed.pdf |access-date=September 19, 2024 |website=BEAC.int |pages=13–16}}{{Cite web |date=2024-02-13 |title=L'héritage d'Abbas Mahamat Tolli à la Beac en 12 points |url=https://ecomatin.net/lheritage-dabbas-mahamat-tolli-a-la-beac-en-12-points |access-date=2024-09-14 |website=EcoMatin |language=fr}}Banque des États de l'Afrique centrale, Bilan de la mandature du Gouverneur de la BEAC, S.E.M. Abbas Mahamat Tolli, Yaoundé, Cameroon, 2024, 17 pp.{{Cite web |last=Ledy |first=Nephthali Messanh |date=2018-06-22 |title=BEAC: Abbas Mahamat Tolli defends his balance sheet |url=https://www.kapitalafrik.com/2018/06/22/beac-abbas-mahamat-tolli-defends-his-balance-sheet/ |access-date=2024-09-19 |website=Kapital Afrik |language=en-US}}
On December 13, 2024, the Government of Chad formally nominated Tolli as a candidate in the May 2025 election to the Presidency of the African Development Bank.{{Cite web |last=Nsoesie |first=Peter |date=2024-12-16 |title=Abbas Mahamat Tolli submits Candidacy for African Development Bank Presidency |url=https://cemac-eco.finance/abbas-mahamat-tolli-submits-candidacy-for-african-development-bank-presidency/ |access-date=2025-01-02 |website=CEMAC ECO FINANCE |language=en-US}} He had previously received the endorsement of the Economic Community of Central African States.{{Cite web |last=Rédaction |first=La |date=2024-03-18 |title=ECCAS Member states support Candidacy of Abbas Mahamat Tolli for the African Development Bank Presidency |url=https://cemac-eco.finance/eccas-member-states-support-candidacy-of-abbas-mahamat-tolli/ |access-date=2025-01-02 |website=CEMAC ECO FINANCE |language=en-US}}
Controversy
In April 2022, the Central African Republic passed a law adopting the cryptocurrency Bitcoin as legal tender, only the second country in the world to do so. Tolli, in opposing this move as contrary to the regional treaties governing the BEAC. The CAR was eventually compelled to suspend the new law pending the issuance of BEAC regulations governing cryptocurrency in the region.{{Cite web |date=April 28, 2022 |title=Central African Republic adopts bitcoin as an official currency |url=https://www.reuters.com/world/africa/central-african-republic-adopts-bitcoin-an-official-currency-2022-04-27/ |url-status= |access-date=September 13, 2024 |website=Reuters.com}}{{Cite web |date=2023-03-20 |title=Loi sur les cryptomonnaies : la Centrafrique revoit sa copie |url=https://www.rfi.fr/fr/afrique/20230320-loi-sur-les-cryptomonnaies-la-centrafrique-revoit-sa-copie |access-date=2024-09-14 |website=RFI |language=fr}}
References
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Category:Governors of the Bank of Central African States