Egypt says central bank governor resigns amid economic woes

17/8/2022 19:47

        Egypt's central bank governor resigned Wednesday as the country struggles to address its economic woes.
        
        The Egyptian leader's office said in a statement, President Abdel Fattah el-Sissi accepted the resignation of Tarek Amer and named him a presidential adviser.
        
        The brief statement offered no reasons for Amer's resignation. He had been appointed as governor of the central bank in November 2015.
        
        No replacement was immediately named.
        
        Amer has been criticized over handling the country's financial challenges which have seen the local currency slide against the U.S. dollar in recent months.
        The pound has lost much of its value. The U.S. currency has been traded at over 19.20 pounds in Egypt's banks, up from average of 15.6 pounds for $1 before the central bank's decision to devalue the pound in March.