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Tarek Amer term extended till 2023

The first term of Amer saw him steer the country away from shortages through a devaluation to become the fastest growing economy in the region.
© Egypt Business Directory

Tarek Amer's term as governor of the Central Bank of Egypt was extended till 2023. The decision was made by President Abdel Fattah El-Sisi and approved by parlimentary majority.

Amer is famous for guiding Egypt through a difficult time for its economy until it became the fastest growing economy in the Middle East.

One of his main achievements is stabilizing the economy through the terms of the reformation program that were dictated by the IMF in exchange for a 3 year loan to Egypt.

Investors, banks and research institutions all through 2017 till 2019 have repeatedly expressed their trust in the Egyptian economy and the signals of its growth despite the difficulties.

Not only economy is growing, during Amer's term, Egypt achieved its lowest inflation rates, recovered from foreign currency shoratge and regained investors' trust. All of which made the top international economists label Amer's first term as a success.