CAIRO, Dec 22, 2012 (AFP)
CAIRO, Dec 22, 2012 (AFP)
Egypt’s Central Bank chief reportedly resigned on Saturday, state television reported, before later citing a cabinet source
denying that he had stepped down.
The report on Faruq El-Okda resignation came after days of speculation that he would resign for health reasons.
State television reported that Okda, the bank’s head since 2003, might be replaced by his former deputy, Hisham Ramez.
The conflicting reports come amid economic turmoil in the country, which has seen its currency reserves dwindle and foreign investment shrink two years after an uprising overthrew president Hosni Mubarak.
An IMF loan expected to boost the economy has also been delayed as Mubarak’s successor Mohamed Morsi battles a renascent opposition movement that has resorted to mass rallies to put pressure on the Islamist leader.
