Egypt Names Former Investment Banker as Finance Minister
- Senior World Bank economist named as deputy finance chief
- Economy is struggling with dollar shortage, tourism decline
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Egypt replaced the ministers of finance, investment and tourism in a cabinet reshuffle as the most populous Arab country seeks to restore confidence in its economy and revive a tourism industry reeling from the Russian plane crash over Sinai last year.
President Abdel-Fattah El-Sisi named Amr El-Garhy, a former executive at investment bank EFG-Hermes and a board member of investment firm Qalaa Holdings, as finance minister, replacing Hany Kadry Dimian. Ahmed Kouchouk, a senior World Bank economist, will be one of El-Garhy’s deputies.