Governor of Central Bank of Egypt (CBE) Tarek Amer denied media reports that he was dismissed from office following his appointment as representative of Egypt at the International Monetary Fund (IMF).
Prime Minister Sherif Ismail issued a decree Monday appointing Amer as Egypt’s Governor of IMF and appointing Minister of Finance Hany Kadry Dimian as Egypt’s Alternate Governor. This decision sparked controversy in the market, as rumours circulated about the exclusion of Amer from CBE.
The revaluation of the US dollar exchange against the Egyptian pound in the black market, for the first time in history, fueled these rumours. Amer told Daily News Egypt the Governor of CBE is always an ex-officio representative of Egypt at IMF and denied any conflict between the two offices.
Ismail’s decree also included the appointment of the Minister of International Cooperation as Egypt’s Governor at the Arab Bank for Economic Development in Africa (BADEA) and appointing the Minister of Planning as Egypt’s Alternate Governor.
The Minister of International Cooperation was also appointed as Egypt’s Governor at the African Development Bank, while Tarek Amer was appointed as Egypt’s Alternate Governor.
Ismail also issued another decree appointing Minister of International Cooperation as Egypt’s Governor at the Islamic Development Bank and appointed the Minister of Finance as Egypt’s Alternate Governor.
In addition, the Minister of International Cooperation was appointed as Egypt’s Governor at the European Bank for Reconstruction and Development (EBRD) and the Minister of Investment as Egypt’s Alternate Governor.