CBE Chief: Support by Egyptian political leadership led to success of reform program

Governor of the Central Bank of Egypt (CBE) Tarek Amer on Wednesday 31/7/2019 said the great and unlimited support by the Egyptian political leadership for the CBE contributed to the success of the economic reform program in Egypt.

Amer, who is chairing the current session of the Association of African Central Banks (AACB), added while addressing an annual symposium of the association here that the economic reform measures have spared Egypt an economic catastrophe that could have had very bad consequences.

The CBE enjoys complete independence in its decisions, he said, confirming the necessity that African central banks should enjoy this kind of independence from decision makers and political leaders of the African Union. This would lead to achieving growth rates and economic stability in African countries, he pointed out.

The association groups around 40 African central banks and is responsible for implementing the African Union program of monetary cooperation.

Source: State Information Service Egypt