Egyptian President Abdel Fattah el-Sisi’s office stated on Wednesday that, more than a year before the completion of his second term, Sisi accepted the resignation of central bank governor Tarek Amer and appointed him as a presidential advisor.
Amer had stepped down “to allow others to complete the successful development process under the leadership of the president,” state television said without providing any further details.
The change comes prior to a monetary policy committee meeting scheduled on Thursday evening. Analysts expect the overnight deposit rate to be raised by 50 basis points in order to keep inflation in the country in check.
The decision also comes as Egypt is in the midst of negotiations for fresh financing from the International Monetary Fund (IMF)