Egypt's Central Bank governor resigns amid economic crisis
The resignation of Egypt's central bank governor has put the country's economy under pressure.
CAIRO — The sudden resignation of Central Bank of Egypt Gov. Tarek Amer Aug. 17 raised many questions in economic circles about the motives of his decision and its repercussions on the precarious economic situation in Egypt.
Several Egyptian politicians and economists told Al-Monitor that Amer’s monetary policy contributed to the exacerbation of the economic situation and eventually led to his resignation after seven years at the helm of the Egyptian banking sector. They said that his resignation might either place further pressure on the economy or lead to a breakthrough.
After the central bank denied Aug. 13 Amer’s resignation, the Egyptian presidency announced Aug. 17 that Sisi accepted Amer’s resignation and appointed him as an adviser to the president.
In November 2015, Amer assumed his duties as governor of the central bank, and Sisi issued a decision to renew his mandate from November 2019 to November 2023.
