Article author:
Associated Press
Cairo (AP) — Governor of the Central Bank of Egypt Wednesday as the resigning country struggles to cope with economic woes.
President Abdel Fattah El-Sisi accepted Tarek's resignation of Mr. Amer and appointed him as presidential adviser, the Egyptian leadership's office said in a statement. .
A brief statement did not give a reason for Amell's resignation. He had been appointed central bank governor in his November 2015 appointment.
His replacement was not immediately named.
Amer has been criticized for handling the country's fiscal problems as the local currency depreciated against the US dollar in recent months.
pounds lost much of its value. In Egyptian banks, the US dollar is trading above £19.20 and averaged £15.6 per dollar before the central bank's decision to devalue the pound in March.
Inflation has also increased in recent months, partly as a result of Russia's war in Ukraine. Egypt is the world's largest wheat importer, with most of its imports coming from Russia and Ukraine.
Egypt's annual inflation rate reached 14.6% in her July, increasing the burden on consumers, especially low-income households, especially on commodities.
Amer's resignation came as the government negotiated new loans with the International Monetary Fund to support its reform program and help meet the challenges posed by the war in Europe. was performed on
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