Tarek Amer, Governor of the Central Bank of Egypt – Reuters Photo
CAIRO - 26 May 2022: The decision issued by the World Bank (WB) to choose Central Bank of Egypt (CBE) Governor Tarek Amer to chair the WBG and the International Monetary Fund's (IMF) annual meetings, which are scheduled to be held in October, shows international confidence in Egypt's overall monetary policy, affirmed a number of local and international bankers in Egypt.
The successful economic program undertaken by the government and the CBE over the past years has made Egypt more resilient in the face of global economic shocks, a host of bankers told MENA in statements Thursday.
Egypt has managed to ameliorate a lot of consequences associated with the coronavirus crisis the Ukrainian crisis along with the ensuing global challenges related to the sharp increase in inflation rates, they added.
The WB's decision to choose Amer reflects the strong position of the CBE and its good reputation at the global level as well as its successful role in managing the monetary policy file, said Chief Executive Officer of QNB ALAHLI Mohamed Bedeir.
The CBE, led by Amer, managed the files of monetary policy and exchange market successfully, which reflected positively on the performance indicators of the national economy as a whole, he added.
Chief Executive Officer and Chairman at Banque du Caire Tarek Fayed, for his part, said that the WB's decision to choose Amer to chair such meetings came in appreciation of his achievements for several years.
He also pointed out to Amer's role in managing the economic reform program, which had positive impacts on the Egyptian economy.
Amer was first appointed as the Governor of CBE in November 2015. He has since led a development revolution within the bank and the banking sector as a whole.
In addition to the monetary reform, the CBE was keen on launching a series of initiatives to support the strategic sectors in the country, and support the development environment and investment climate.