Mokhtar Ghobashi, vice president of the Arab Center for Political and Strategic Studies in Egypt, revealed the expected reasons behind the resignation of Egypt’s central bank governor Tarek Amer last Wednesday.
Mukhtar Ghobashi asked during a media meeting with Faten Abdel-Maaboud on Sabah al-Balad broadcast on Sada al-Balad channel: “Is this resignation due to Tariq Amer’s inability to withstand the fall of the Egyptian pound against the dollar since March last year currently at 22%? Or is it because of the heavily tied negotiations with the IMF on the requirements of the fund?
The vice-president of the Arab Center for Political and Strategic Studies added that since Tarek Amer took over as governor of the central bank, Egypt has received 3 loans from the IMF.
Mokhtar Ghobashi added that Tariq Amer was the subject of controversy and resigned 15 months before the end of his second term, which means that there is a stumbling block in negotiations with the International Monetary Fund, in light of the fact that importers of manufacturers need foreign currencies for cover their needs coming from abroad.
The vice-president of the Arab Center for Political and Strategic Studies indicated that banking thinking should be linked to the governor’s ability to provide the necessary liquidity and maintain market price stability, leading to economic stability, and therefore one of the expected reasons for Tariq Amer. humility is his inability to achieve his desired goals.
Source: Egypt Times