Economics
Egypt Appoints New Central Bank Head Amid Devaluation Debate
- Outgoing Ramez was criticized by businesses over FX shortage
- Analysts say new chief Amer likely to weaken Egyptian pound
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Egypt’s central bank Governor Hisham Ramez resigned and will be replaced by Tarek Amer, a former chairman of the country’s largest commercial bank, amid a national debate on whether policy makers should push for a steeper currency devaluation.
Amer will take charge of the central bank after the end of Ramez’s term on Nov. 26, the presidency said in an e-mailed statement. Amer has also served as deputy central bank chief in the past.