Business hub – cairo
Tariq Amer, Governor of the Central Bank of Egypt, said that the political leadership supports the independence of the monetary policy decision, and this was the reason for success in all procedures and decisions. One billion dollars in foreign investment during the Corona period and the decline in international reserves, we have now succeeded in returning to previous levels and we continue to progress
He said that the world faces great challenges, and Egypt is among the countries affected by the crises that the world has faced, starting from the Corona crisis to the Ukrainian war and its consequences, explaining that we will face these challenges strongly through our experiences and great capabilities that all international and regional institutions testify to success.
He added during the two-day conference of the Union of Arab Banks in Cairo that we do not fear crises and deal with the principle of proactiveness and do not wait for things to become complicated. Monetary policy through the Central Bank of Egypt closely monitors all local and international developments and we work to measure and extrapolate the future with advanced tools and take proactive measures and secure all reserves He declared our ability and maintain levels of liquidity and the flow of capital, noting that the world since 2008 has been facing continuous conflicts and the Central Bank of Egypt has been dealing with them with the principle of proactiveness and work for the interest and stability of societies and the interest of the Egyptian citizen.
He said that these measures that were taken protected the economy in the Corona crisis, and through the important development in the field of transition to digital payments, we were able to confront the crisis and what it requires of social distancing and relying on digital transactions to serve the interests of citizens and preserve their health, noting that there are 38 One million citizens deal with Egyptian banks, and this is a great success. He explained that during the Corona crisis, the Central Bank took many measures to reduce inflation and we endured temporary repercussions and pressures in order to achieve greater gains in the future.
